I am in the low 800s and don't know of any tangible benefits to be at 800+.

Hi Jewell,The first thing is to see what is lacking the most in the property since small upgrades will have the biggest impact in the areas of low quality to start.

If you choose an area or decide to work with people who will take up more time due to the low cost of entry, you may end up paying more in the long run. 

I have a good amount in savings, and as a first-time homebuyer, I believe I can lock in a low interest rate.

@Lucas Helliker I am a multifamily broker who only sells multifamily in the KC metro - typically 5-50 units but go as low as 2 and up to about 72 units.

I have tested it in the past and find that it is way off (usually on the low side) for me.  

The best route is low coverage industrial, industrial outdoor storage.

I also know Arizona is fairly investor 'friendly' and has fairly low property taxes.Interested in purchasing small multifamily properties (2-8 units) depending on the property and numbers of course.

Some will go down as low as $100,000.  

I wouldn't have to wait longer to prove my income on something that price.However, I'm wondering if it's a good investment or, like someone told me, "if house prices are that low, you'll likely be in a poor area and not have great tenants."