They have been gracious enough to not charge me rent while I save.I want to get into real estate, but even a simple 3/2 home is $220k+ (at the bare minimum) in the area that I am living.The rental rates would most likely be $1400 monthly for that home.

Even so It would barely cash flow but I think the market will appreciate. 

@Paul WeldenHeloc is too early right now, I’m only 3.5% down on this, barely 8 months in it .Yes I’m planning on getting owner occupied loan, I would save for the down payment, but the 203k would work right?

I just graduated college in 2018 so I am barely getting started.As an alternative, I have been looking to increase my cash flow and grow a portfolio in other states. 

My friends roof barely qualifies for "damage" in my opinion but I'm not a licensed contractor making bank off insurance claims.  

Purchase price: $3,500 Cash invested: $96,000 Torn this house down to the bare bones & brought it back to life.

Bare with cause what I have to say could be very lucrative and be a once in a lifetime chance they I'm giving you a chance to get in on it.

The apartment is a legal but nasty basement studio with a steam main running through it barely over head height renting for $600, I'm not leaving much money on the table.

This is texturing done with drywall joint compound over a bare drywall ceiling, as evidences by the mud visible in the second photo under the failed patch.

I am going to be renovating quite a lot with my bare hands until I’m able to own enough properties to never have to work again, but I am probably going to be doing all this work with some help as well (or at least at the beginning).