Might have a tenant that will sign a ten year lease and drop some money into the space.

With it being that risky, the least I could do is have some money saved up.

Many Realtors will suggest purchasing a property using a FHA Loan, to reduce your out of pocket money.

Not sure how much money % I can save if I do it myself too? 

Most if not all of these properties require SIGNIFICANT cap ex rehabs and conventional financing won't touch them; you'd likely need to go the hard money route at 10-12%, 2 points, 12-18mon turn around.

If so make they have their earnest money held by the attorney and not the agents broker.

Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?

My current situation is that I always flip with other people’s money.

You can attend all the REIAs and read all the books and sign up for all the conferences, and spend all the money, and you are will never really know you can do it until you do.Over 20 years in real estate in various forms and roles, action will beat out intelligence or education or even network 100% of the time.  

Training bizz is a HUGE money bizz..