We will have a wave of tenants who are financially strapped. 

After talking with my best man(mortgage banker) about buying a house I quickly realize that I don't qualify for much of a home loan about 180k, and even if I find one id be strapped  to make the note, and would be stuck in it for a long time before i could ever get out of it and on to a nicer house.Found BIGGERPOCKETS.COM and became a pro member, read more books, listened to every single podcast, learned more about real estate and investing in a few months then I ever imagined, looked at every property on the local MLS, analysed tons of properties and found a decent idea on what we needed to find........ now onto the successI took that 5k and wrote an earnest check for a sfr that was converted into a duplex that had been on the market for over a year, tons of new upgrades, but neither unit was livable or close to finished. 

@Mark Lange Also be sure to check out the BiggerPockets Podcast: Show 21It's all about wholesaling, you'll learn a ton.Training with JJ is awesome, sometimes we have over 10 black belts on the mats in a normal class.

C class areas in Birmingham are largely section 8 rentals.I would also be more selective when purchasing a house in Fairfield, the city is very financially strapped, the city services are subpar as well.

From the ceramic tile factory, to the rubber mats for cars factory, to the tress factory to the chicken processing plant to any fast food place or store to the hospitals and care centers, they are all hiring!  

If you purchase a home in NJ or NY you are completely cash strapped for life and will never be able to invest 

While that 4k may get you a down payment on a cheap duplex in which you could house hack, you wont have enough for closing costs, repairs/reserves ect... and be financially strapped.

Originally posted by @Jay Mat:@Greg Dickerson don't you need to use the 70 percent rule on rental property's you should have an exit strategy?

My brain: "Why would you want me to do mat- , add 7 and 8, gives you 5, carry the one add 4 and 2 and 1."

No other appliance got as many maintenance calls, as if you do C/D-- people often treat them like they do W/D at the laundry mats-- put as much stuff in as possible so you only have to do 1 load.