Different demographics, medium income, school systems, crime rate, etc.

REO agent is a medium for the bank to put it on MLS.However, I am a realtor and can access MLS and REO websites, so if your not using an agent to represent yourself you may have to get ahold of the REO agent which can be difficult. 

You can definitely buy with less but you should plan for at least a medium sized renovation project. 

Just for grins I pulled up the HCAD page for a medium sized apartment complex in my neighborhood.

That's the route I'm planning on taking, but I'd love to hear input from others.If you've mailed to tax delinquent property owners before, what medium of direct mail have you had the most success with?

Currently hold a corporate job which I plan on getting rid of within the next year thanks to my new career as a Real Estate Investor.Although I’ve just recently started my professional career as a Real Estate Investor, I’ve received extensive professional training from long time experts in the field, successfully closed a couple of deals of my own already; as well as helped Cash Buyers find great deals in my area meeting and exceeding their expectations.My immediate goal is to specialize in wholesaling deals, finding the best deals for my cash buyers per their personal criteria.My short to medium term goal is to buy and hold at least 5 or more rental properties consistently producing the highest cap rate possible with a double digit cash on cash return within the next 5 years.

I have never owned a home, I'm single with good credit and a medium income full-time job (for now).

Use these single bed units to target medium term stays (1-2 month) and I think you would do well.

2) should iget a decent looking house with light/medium cosmetic work thats needed?

I am currently Marketing for SFR sellers, and will soon move towards MF, small and medium locally.