He does 65% leverage maybe 70% but doesn't matter how low purchase price is. 

Real estate is a very capital intensive industry and if you do not have the money the odds of success are very low - it is no different than starting any other business - how many people do you know are successful when they start with zero?

It's very user-friendly, low cost and allows the option to add team members to projects and tasks. 

., too low.  

We are a growing market with low unemployment but you will see a lot of the rental income going to covering expenses and setting aside reserves. 

Choose a multifamily or single-family investment approach, consider low cash flow priority, and monitor interest rates and seasonal timing.

LTR is stable, slow, and risk is low but potentially not as much cash (right away).Comes down to what goals you have and your risk threshhold - I have friends in CO springs who do STR and MTR, and works out great - but also have folks who LTR in that area and it pays for them self and it a great way to save money in places like taxes and build equity.  

Google something similar to "low cost commission free variable annuity". 

Transitioning to a Second Property with Low Money DownIf a second FHA loan is not an option, here are alternative strategies to minimize your out-of-pocket expenses:Conventional Loan with 5% Down: Once you’ve added equity to your current property, consider refinancing into a conventional loan to free up your FHA eligibility.

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).