In fact, it is usually an automatic no deal unless you are putting 50-60% down for an investment property, but at that point, it wouldn't be worth putting that much cash down on an investment property where you can get much better returns in markets such as Denver. 

Find the manager first, then find the properties. 

He would also be exposed to liabilities related to the property, such as lawsuits or property damage claims, which could affect his personal assets.

- I understand that properties go to auction, but what’s the process like from start to finish? 

I’m a real estate broker, Investor, and property manager in Lee County.

This property has been flipped, and rent exceeded the one percent rule.

In some cases, after running the numbers, I’ve even faced potential negative returns, causing me to miss out on promising deals here in South Florida.That brings me to my question: I currently own two homes—one is my primary residence, and the other is a rental property.

You may get better results by purchasing a duplex, triplex, or fourplex.Here's a guide that describes what good cash flow looks like and how to analyze a property.

Quote from @David Cherkowsky: Hi All,I purchased an investment property in the middle of last year and to this point have been using 0.75*lease value in my DTI calculation.

Likely, you will need to find a property in need of significant work.