It also matters what kind of property it is as single family residences are priced differently than condos or 2-4 units.Also, the state matters as different lenders operate in some states but not others. 

If you're not yet aware of this niche strategy whereby you can leverage your real estate assets (single family, multifamily, hotels, etc.) to generate significant long term cashflow, this is the podcast to watch. 

I see a lot of 2/3 family's in Springfield MA for good prices.

If so, lending this money puts his home and, presumably, his family at risk.

I do not yet know what my end goal is, but my current goal is to obtain 1 single-family home rental property, and expand from there.

Premium RE, high COC return like a luxury STR or small balance multi family could be a good partial anchor. 

You might also want to take into consideration if it's a single-family or a multi-family.

Dont talk with your family or friends about Real Estate investing.  

Are you looking to add single family homes or multi-family properties to your portfolio? 

I am closing on my third single family home rental.