For an $800k investment purchase, I would expect $200k downpayment, $10k-$15k in closing costs, and 1-3 points at $6k/point.

it depends on your situation. 

Spend at least 2 hours per day researching online about your desired investment strategies.

I am changing the locks over on all of my units at each turnover.

I would like to purchase a three or four Plex and live in one of the units.I understand I can use an FHA loan or conventional loan with only 3 to 5% down in order to get into the property however I live in a very expensive area and the properties I am looking at are currently 700+. 

You can certainly negotiate some closing costs from the seller on the buy side.

Quote from @Kedric Naylor: Quote from @Lateefah Mathews: @Kedric Naylor Congrats on closing your first property and being lined up for your second...that’s huge!

If the price was right on Turn-key maybe, but probably more of the fixer-upper that can be leveraged later on for additional property or sold for a nice profit. 

Your original purchase is depreciated over 27.5 years.

I own a couple vacant lots and looking to purchase more in a small area. 2/1s in Memphis, as far as I know, are as desirable as in a bigger market.