Even if it does, there's closing costs to consider.As I said, I have no cash myself, so I'm asking how I can deal with generating cash for closing costs (and a down payment) if it comes to it.The house costs $139000.

So, often times even if 1 or 2 of the units in the building are not generating any rent, the remaining rents are still enough to pay for all of your property’s expenses and you don’t have to come out of pocket to cover them.

Where is vacancy, maintenance/cap ex, asset protection, PM (include it even if self managing as you deserve to be compensated for your efforts), utilities, misc.  

@Scott Trench & @Rene Hosman Have you considered implementing ways to verify identities of those who can post in the forums and perhaps even require full names?

If you are raising capital from people you don’t have a prior relationship with, and even people who you do, they would regard you as serious only if you had a professional prepared PPM and Operating Agreement.

I know that's not a huge cash flow, and any repairs could make me break even.

The issue with section 179 expense is that you normally have to operate at positive income.Under most circumstances, bonus depreciation is better since you can take bonus depreciation even if you operate at negative income. 

I like this train of thought and think you should aim for option 3: conventional loan + lower downpayment (perhaps even lower than 10%).

Even thought we headed out at 11:15.

However, even though they both have jobs now, they still do not pay the weekly rent that they promised to pay.