You can do 20% down, but often won't cashflow. 

They are more useful IMO for getting chunks of equity right off the bat thru value add and then either realizing that equity by flipping it and using for a down payment on something bigger or hold a couple years and then sell at that point to do that then. 

Hi Aaron, I know I wasn't the original poster, but we did end up doing new construction down there in the past year (also purchased cabins before deciding to build). 

I can help you narrow down the best Texas market for you, DM me, and I’ll point you in the right direction!

This money will be used to pay down some debt I have and also purchase 1-2 additional rental properties.  

I wholesale some properties, and others make sense to take down as rentals.

Sounds like a pretty easy way to get in over my head fast, but at the same time, it seems like an opportunity to pick up a property WAY under market value and there theoretically should still be plenty of meat on the bone.

I have improved fair rental value and value by increasing the kitchen size; adding an island tearing down walls between the kitchen and dining area and living area, etc.It all depends on the particular property. 

Does anyone have any recommendations of first time home buyer grants or down payment assistance programs for New York State?

If you don’t have a clear understanding of your cash flow, operating costs, and future expenses, you could be setting yourself up for financial stress down the road.The Power of Financial ClarityYou can’t make smart decisions without knowing the full picture of your finances.