Originally posted by @Ryan Arnold: Not having a down payment on housing that typically ranges from 200k an up is my downside right nowYou obviously haven't read the ultimate beginners guide as it goes into depth on financing methods.

I am taking notes of what I need to research more in depth from BP, books, other REI etc.

I get the impression these vary in depth.

Sure, they often offer a more-in-depth, paid seminar or coaching session the following weekend, but the content at the general meeting alone is worth it.  

@Matthew Martin others can answer more in depth, but one possible problem is that when you are getting a discount it's usually because the property is distressed, and many banks will not loan on a distressed property.

If you have in-depth questions, I'm happy to help more.

If you build up enough equity in the house through the improvements, you in essence could "flip" it after you live in it for the mandatory 12 months that FHA demands.It is worth taking the time to look at FHA in depth and getting a feel for how it can work for you.

Then you can take this filtered list of properties and run a more in depth calculation and figure out if anything is good.Finally, I don't think there is any harm in letting other agents in the area know that you are a buyer and that if they send you something good, you will move on it - if that is in fact true.

In a majority of cases (far from all though) from what I've read over the years on this site and another site, you will be able to charge (deduct from sec dep) the tenant for any damages and any rent not paid until the end of the lease or until you get it rented again. 

Thank you for the in-depth response!