This will expose you to the different markets, expand your network and help you save for a dp.The other option (which I suggest, or worked for me when I started out) is to secure a property that will cash flow, complete your due deligence, complete a thorough analysis and then present it to a partner (friend or family) who will put down the cash, while you act as the industry professional with all the knowledge.  

While doing research, I was pumped to find this great community and have thoroughly enjoyed the articles and podcasts although I have only scratched the surface on the content here.  

So far I haven't had to replace any boilers (I check to make sure they opened the boiler drain valve) I think the reason the property preservation companies don't do a thorough job is because they are not paid well.

If you want to protect your investment, spend the time being clear and thorough in your scope of work.

Once you have that chose your market and study it thoroughly.

Definitely something to thoroughly peruse.

Rachel Imhof Wow, so thorough and so great post, I could not agree more with #4, we have government contracts and when you say “we remodel government buildings” the usual reaction will say “oh that’s good money right there”, it is not, we spend efforts and spending a ton of time and money before and after a contract, chasing them and failed bids, then government tells you how much to pay workers, then there’s always that oops factor.

Even in a rental, I would do a more thorough rebuild of the bathroom.

@Lumi Ispas, Thank you for your sharing your experiences and taking the time to respond in such a thorough and engaging manner. 

This is what I was hoping to do: If first we can come to terms about the roof and any foundation issues,  and I thoroughly vet his expenses that he claimed in the appraisal and they check out, I lease the 7-unit property from him for an agreed amount with a selling price well below the 2016 appraised value of $240K.