putting 20% down on $200K will be a $160K (first position)note.

It's a competitive market and most of the people that get in trouble here are ones that buy blindly without actually figuring out the numbers, etc.You'd be surprised the number of times I get asked after month one if their electric bill of $xxx or whatever is normal, and the thought running through my head is "how did you not  check things like that before you committed half a million dollars to something?"

Others have hit it on the head.

Concentrate on your development cost and keeping them down and the deal will pencil.

Because sometimes posters don't like the replies they get and want to take down their post after other members have invested time in replying.Further, once you make a post here or anywhere, its there forever. 

After that is done, head over to IRS.gov and apply for your EIN (Tax ID).

in my mind if your just talking 1 to 4 units  those should be able to be vetted in your head or on the back of a napkin in about 30 seconds..

I'm more just tossing the idea around in my head should things get worse in years to come.

@Stefano Vrolijk it all depends on your credit history, whether you have an SSN/ ITIN and how much you can put down.

I'm based in Powder Springs, Ga.I've always heard about real estate passively but it always went over my head and seemed beyond my reach.