Would you buy a property where you have to give half the profits away for life? 

What are the usual lending parameters for a person getting there first property with roughly a 700-730 Credit Score and trying to secure a home 200k or under?
 
Is there a way to have No money Down or Low money down? 

Quote from @John Friendas: There's a house I'm considering buying with a business partner as an investment rental.

I use Eric Kloth out of Redding and he is stuck with us for this and our future home buying needs. 

@Sakib KhanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Another cool thing about that is that most their properties are in the low 100s, which means that I can buy 2 of them, and then buy another every time I can gather 25k more.

Why not use your IRA to just buy the property? 

We purchased this buy and hold historic duplex which faces William Land Park in Sacramento.

Auction buying is a risk just is..

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.