@Christopher HeidrichRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Buying a turn key rental, in an area you know or knew well, with a property manager you've met and trust, in an area that is large enough for you to have other options to find contractors and property managers? 

@Luke Hamlin you can buy a second home with 10% down with a Conventional loan.

Buy in a market not too far away, 30 to 1 hr from a decent city center where values are reasonable and a city push out with help your rent and appreciation. 

However, can you buy real estate without using any of your own money?

Investment Info:Small multi-family (2-4 units) buy & hold investment.

If I am wrong, then please clarify what is and what is not allowed in response to someone stating that they need a CPA.If I am correct, then let me tell you that these rules are enforced very inconsistently, and there're a few people who have been committing these violations repeatedly for months, seemingly without any repercussions for this behavior.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

In 2008 a friend of mine spend $300,000 to buy 100 houses in Detroit.