The 20% cash on cash is in more high risk neighborhoods, the 10% is found more in saturated and safe markets. 

The Triangle is still a great place to invest but is very saturated.

Was looking to do Section 8 rentals in certain areas but I am unsure about Birmingham, Alabama. Does anyone have an idea of how the living situation is over there? 

In addition to the 1 wholesale deal about 3-4 people would be interested in either seller financing or subject-to.As for finding leads on a shoestring budget, there are MANY posts in the wholesale forums here on BP that give proven examples from veterans.Some of the most popular are:Bandit Signs - It will help if you know where your buyers want to buy and saturate those areas.

What about over-saturation?  

You are right it is somewhat over saturated and a little slow, plus it would probably take a little time to build a mailing list.  

As most people know, our market is just over-saturated and crazy with investors and the prices are just too steep for some of us.  

There are group homes on a smaller scale (Mom/Pop) usually done by an RN with family/friends.The concept / sell sounds very strong till you get into the DD and find saturation, demographics,.... 

all this talk about rates, saturation etc......

We would get a property cranking along and then get hit with a huge repair which would pretty much take us right back down to ground zero.I also agree with your statement about town homes and market saturation.