Quote from @Bonnie Low: I work with a lot of MTR investors and what I am seeing frequently with multifamily acquisitions, particularly with new investors, is that they often test the property just like you're mentioning, as a way to dip their toes in the water and see what works in their area and for their personal style.

Does anyone know a lender willing to lend on 40k with a day out of foreclousre up to 50%LTV with a low 500 credit score?

Cash flow is positive although small (between $200-$1200 depending on number of units in the property) on properties that I bought mainly 2011 thru 2017 because of low buying prices and rents have gone up well.  

now if you could get a seller to be the bank I get that you could smoke and mirror those deals.. but i would think those would be picked over low value or properties in the worst areas of town etc..   

So I picked up a few books which includes, "The Book on Investing In Real Estate With No (and Low) Money Down," and "The Book on Rental Property Investing," both by Brandon Turner, which introduced me to the BiggerPockets community.With a decade of experience in property management under my belt, along with my property management certifications and an NC real estate broker’s license (with Broker-In-Charge designation), I’m eager to leverage my background to secure long-term financial stability for my family.

Keep in mind that this is also a very tough time to be entering the market as an agent because the inventory is so low.  

Prices are low and they hit the bottom during the real estate crash.

It's a low barrier to entry and a good option for you, I would highly and I mean highly recommend you focus on location.

I don't know how that business could survive long-term with such low rates.If those numbers are accurate and you can net $38,000 a year, then it's worth holding onto.

During the 2008 financial crash, low paid, low skilled workers were laid off in droves.