Hey Khyree, is your intention to "wholesale" or are you trying to buy a fixer? 

My ultimate goal would be to buy fixer-uppers to turn into long-term rentals.

Just one example of a market getting overheated and then right-sizing.Same is going on with syndications, STRs and soon LTRs.BP took off after the Great Recession when investors could buy almost anything and rent it out for positve cashflow.

I actually got caught up in the creative finance bubble of trying to lock up properties way over their value just because it had creative terms not realizing that if you were to buy a property at 120% of its value you will never be able to refi or sell without paying out of pocket.

Quote from @Chris Seveney: Quote from @Eric Henson: Do you guys ever take the risk of buying a foreclosure at sheriff sale with the previous owner still living in it?

Investment Info:Single-family residence buy & hold investment.

This vary heavily town to town. 20% down is great if buying strictly as investment but if you have a way of owner occupying I would explore that route and apply the 20% down to increasing value of property and instead using low money down loan. 

Any general advice is much appreciated.50k is more than enough money, the biggest question at 22 is are you ready to buy a property and be kind of locked in for 3-5 years.

What I find to be most valuable: Ease of use, cost-savings and efficiency and here's what I mean: If using an interior designer to furnish your rental, they will hand you a list of supplies + furniture to buy and what I was able to do with Minoan is upload that list as a CSV file and then they come back with a quote of all of the items they can fulfill along with their respective discount. 

Investment Info:Townhouse buy & hold investment.