if you qualify for a 500k loan means your making good money.. if you have no cash means you need to prioritize your spending and make real estate investing your priority.the guru in this is @Steve Vaughan  He really has this nailed.. 

Check out Austin Real Estate Collaboration.

Hi everyone,Several folks and I are starting an LLC to begin our collaborative real estate investments.

I say I’m interested in wholesaling or buy-and-hold but I’m open to learn about anything.In the beginning, ideally I’m looking to collaborate with a hands on type person so that I can develop a good idea of the time and cost associated with fix (whether flip or buy and hold).

I guess my question is what should I prioritize to have a stable rental property in decent condition without investing too much into repairs and upgrades in an area where the market will not reward them?

Members often share leads on potential deals, and you may find other investors who are willing to collaborate on finding and funding deals.Consider Markets Outside California:Since California may be out of your budget, explore other markets where property prices are more affordable.

I'm also interested in getting to know other members of the real estate investment community to learn from, collaborate, and possibly work with if it's a good fit.

I will be leaning heavily on a GC for the detailed rehab estimates, based on a scope of work that we'll collaborate on.

I did not see any prioritization criteria either.

well maybe we can  collaborate one day after I get a couple under my belt!