I've been pondering this topic of finding ways to get into REI with limited funds for a while now as many others have also I'm sure.

I'm not saying it's impossible, we just had a similar situation with a client and we were able to get him under contract, your agent will definitely need to know how to maneuver this issue and find ways to make your offer more enticing, whether is by waving contingencies, offer a higher down payment, etc, not saying these are the best ideas, but just some ideas to ponder. 

The house rents for $850/mo, and I think I could push it to $950, give or take - but the debt payments (30-year loan at 4.75 or 5%) and taxes and insurance would take up all of that, leaving nothing for renovations.One alternative I’ve pondered would be to secure it and then seller-finance it to an owner-occupant.

Also, why can't you ponder an LLC name and still be productive?

Just something I was pondering after listening to someone talking about 1031s.

A year from now you'll have enough to ponder another deal.

I'm pondering doing a ozone and also putting out the coffee grounds in a bowl etc for several days. 

I have been pondering if investing out of state makes more sense.

What he ended up doing after pondering on what to do is be more Pro-Active thinking on selecting who lives Upstairs and Downstairs..Typically families w Kids or pets he rented downstairs, young Professionals he rented Upstairs.

Something to ponder when bidding sheriff sale dealshttp://www.tampabay.com/news/business/realestate/florida-couple-stunned-to-learn-458000-paid-for-gulffront-condo-may-be-for/2329213