The Main St property in Grainfield, KS, offered a promising opportunity due to its low purchase price and strong potential for a high return after renovations.

Is there a way to have No money Down or Low money down? 

When loans were called, was it due to specific triggers like delinquencies, insurance lapses, or low-interest rate portfolio loans held by smaller banks?

The type of the neighborhoods where his properties were located didn't fit in with my plan but he did well and the purchase costs were low.

Agree it is difficult to assess costs when they vary so much by location.Keep in mind that some turnovers are sickenly expensive, and that is just the nature of the business. 

Once converted to a rental, repairs and improvements may qualify as deductible expenses, but pre-conversion repairs typically do not.

Looking at this mathematically, if you assume a 50% non-renewal rate (industry standard) and use the low end of the range of $5,000 per non-renewal, there is a loss of $50,000 per year on a 20 unit property.

I was pretty naive going in and the legal components I learned may have prevented me from expensive legal issues at some point.

Hi Saul,Vegas and Phoenix are on the pricier side, so you'll need to put a large down-payment down if you want to cover all your expenses with some cash leftover. 

I would search for a property that has a low interest rate Fha or VA loan.