What @Ryland Taniguchi says is absolutely correct, although I would caution him in that a beginner to the real estate scene won't necessarily have an instant grasp of the jargon.

Housing is not very liquid, a housing "crash" doesn't happen instantly, you should know this.

This is especially important in a society that increasingly demands instant gratification ("Why can't I get a phone app to do everything related to the investment with just one click"?)

I suspect many inexperienced investors, that do not understand the full cost of buy n hold, are under calculating long-term costs and may not even realize that they are purchasing a cash flow negative house.  1% properties have not been found on MLS here since maybe 2013.  50% rule would show every purchase at large negative cash flow (but at our rent point the 50% rule is too conservative).I look for value adds that reduce my investment amount and provide instant sweat equity. 

If the ARV was $120k (hypothetically), you’d have $30k instant equity.  

Youve got an instant $30k negative equity.

It's instant credibility and potential clients love to hear that I am building a practice focused around providing services to real estate investors. 90% of my client base represents individuals or businesses who invest in real property assets which helps assure potential clients that I can meet their needs.I'd put all my energy into that and stashing cash away.

You may get instant responce (don't count on it) or it may take several months.

Even if buying under FMV with instant equity, a conventional lender wants to see skin in the game - a down payment.If the seller could loan you money collateralized by a different property and you owner-occ/house hack it, it would be possible.  

So now you have a property that is below market value in pretty good shape and instantly making money from Day 1.With Zillow/Realtor.com, you have to negotiate the price, fix up the property if needed and then maybe have to get tenants in place.