Maybe this is a stretch, but what about buying an expensive house that  is in a good location, decent lot.. then sell part of the land etc etc.

(should have asked that first)For my first property I plan on spending no more than 80k so while I can afford the downpayment and closing costs, I'm just thinking of ways to stretch my funds so I can invest in more properties.Thanks in advance!

Seems like you are into the buy and hold thing so if that is the way you still want to continue I would try to make your money stretch as far as you can and get into as many units.  

Can't stretch out.

This balloon payment is going to be a stretch, with a few thousands in property taxes due at year end thrown in.Why was the balloon payment a surprise?

New London {New London wanted to seize a bunch of homes so a developer could build a campus for Pfizer - court said that the states get to decide what "public purpose" means and upheld the right}Based on the Kelo decision, it would be likely that this concept could be considered "public", but it is a stretch even with the broad Kelo ruling.

Use 50% of gross rents as average cost per month -- this will be pretty close over any longer stretch, like 5-7 years.

OR cash flow where I'm currently at if I partner up with other investorsTurn-key rentals (I'm anticipating to have my bandwidth to be stretched thin due to full time work and school, although this doesn't negate the fact that I will make the necessary adjustments if needed)Buy and HoldOpen to the idea of flipping as well but I have zero experience in anything construction related.I hope that this is enough information to get the discussion rolling.

2016 goals were 1 unit, and stretch goal was 2 units.  

The fact that you're asking here on BP likely means that you're open to the idea of stretching your dollars a lot further in the USA than in Australia?