For example, there is a very small building materials store that sold SnapTile for 1.50-2.50 a square foot which normally runs 5-7 dollars a square foot in my area my flooring guy was unaware of.

They watch and tally everything up and by the time they set foot on your jobsite, it's too late.  

However, I don't want to put a foot in that area, so I am working to build a team (property manager, handyman, etc) even before I start looking a properties there.

This high down payment amount is not something I can afford at any point in the near future.That I'm aware, there isn't a local real estate investors club or meet-up group where I can talk to others who invest locally - so I'm a bit stuck for advice here.Ultimately, I'd like to get my foot in the door in this business as soon as possible, but the financial barriers to entry seem almost insurmountable here in the Cayman Islands.

I feel like I'm being too paranoid about this, my area isn't a big one and I just want to make sure I don't shoot my reputation in the foot before I get started.

Great for you getting your foot in the door.  

If you don't have money I think there are better ways to get your foot in the door for home ownership.In your shoes I would seek out motivated sellers that might allow you to gain some equity that you can then snowball into full ownership.

The 2% rule seems to be intended to protect against long term expenses (carpet, painting, roof, etc) but if the cost of the home is so much larger than the upkeep expenses it should instead get back to a cost per square foot to maintain-- Example 2000sq ft * $3/yr = $6k/yr for maintenance seems much more reasonable then needing to go achieve the $18k/month route to suggest cashflow.

I have noticed the same with triplexes (not a bad thing, I know) but I would prefer to pay my mortgage down along side others that would love to help me pay it down by occupying the space itself.Should anyone have advice on a way to get my foot in the door regarding duplexes, please let me know.  

(May 31st)Facts:The Auction is starting at 100k with 50k bid incrementsComparable sales in the area between a low of $154 to a high of $178 per square foot.