I think there are plenty of places to achieve that happy medium, especially if you are the sort of person who doesn't have to live in an ultra-hip part of the country for either professional or preferential reasons.30 was my "retirement" goal, but I've amended it to "as soon as practical" :) For me, that is $30k+ yearly "passive" cashflow, since I can personally live on that and remove the necessity for a conventional job. 

I am a long time real estate investor who invested in Jersey City NJ before it was ultra hot in '97. 

. - Congrats on your success...everyone including myself is ultra jealous on how early you're getting started!

Sniping the ultra-motivated lists is an option, but very saturated and likely you will have large gaps in your pipeline and dealflow.

These require a much higher down payment, are harder to get, and have stricter terms such as higher rates and pre-payment penalties ... these are typically used more at the higher end, more experienced investors, larger and more valuable commercial property, more ultra high net worth investors that want leverage but don't want to put their significant assets at risk.

Otherwise you are giving all the profits to the hml and then to the government for taxes and one is left with a pittance for hours/days in the ultra hot texas sun at times. no fun.

First thing you need to do is get ultra specific about what you are trying to buy.Example: Buying for 3 million and below with putting 25% down.

But again this is in ultra competitive places. if your in the rust belt cities and there are thousands of target homes really does not matter but when your in a high end Highly competitive market with homes that are in the hundreds of thousands or lots that are 100 to 300k... one needs to be aggressive and pull out all the stops and stomping on your no money wholesaler competition is fair game in my mind... :)

But now it's become the second homes of the ultra rich and the second fastest growing financial sector in the country.

The obvious "ugly" ones that are transitional are nowhere near me, so they are ultra inconvenient (it would be at least an hour out and back).