I understand you don't need a lot of space, but you are paying someone else's mortgage.I would start with a fixer-upper investment, up to four units.

I am starting with a small budget(100k-120k) so trying to understand which neighborhoods I should focus on, would love to get recommendations if you have :) I live south of the city and only like to go about 30 minutes away from home. 

My understanding is that the ballpark standard of "unless it would be outrageously tough" (something along those lines) is what applies if you're doing a rehab, seeking new permits, doing structural changes anyways, and things of that nature.For existing pre-ADA structures, my understanding is that the standard is more along the lines of "if it can be easily/cheaply done, you have to do it."

I understand that with traditional mortgages, it is unlikely to receive lending that incorporates speculative renovation costs.

Here’s some context: Property 1: >$100k in EquityValue: $325kDebt: $220k @ 2.88% (30-year fixed)Property 2: >$70k in EquityValue: $325kDebt: $252k @ 3.38% (30-year fixed)Extra considerations: - I have $15-20k liquid to use for any of these deals- My current job is relatively stable, but not high-payin- Current properties in TX, living in NY, looking to invest in Mid-West (crazy, I know)- No other debt obligations besides the two mortgagesUltimate goal/timeline: Though a bit ambitious, I’d love to build up the portfolio to 10-20 units in the next two yearsI understand that any/all replies aren't financial advice; all ideas welcome for information purposes. 

It's my understanding that the previous auditor only had the position for eight months, jacked everyone’s taxes up, and then resigned and passed away.

This would be my first real estate investment, making the decision even more critical.I understand that backing out would mean losing the $2,000 earnest deposit.

@Michael Long less than 5% of agents really understand what an investor is looking for!

Nothing wrong with that as long as you understand and are ok with it.

The mailers I receive for my properties are not of a high enough quality, to make me believe the sender understands what gets a recipient to even open or read the mailer, let alone respond.