It really depends on what you are looking to do in terms of property type/strategy (turnkey, BRRRR, flip, etc). 

There are other things, other businesses where you can make money- such as owner operator of a 7 eleven, or some other such franchise type business. 

If the house attracts the type of tenant who is likely to skip out on rent or cause damages, it could be worth it.   

Finding a co-signer would help you qualify if they’re an ideal candidate.

Access to the MLS definitely has a mafioso-type feel to it, since you have to pay monthly dues.

Ideally, you want a stable and/or growing population and low unemployment.

You get to live in your ideal location with 5 star amenities! 

If the loan amount is less than 500k, there is a lot less lenders that can do these types of loans compared to 1-4 or 10+ units and rates tends to be higher.

Also, I'm sure most auctions of any type have this type of info available to review.

Ideally, I want to get properties that are 10+ units and will get me closer to my goal.I will admit that there is a certain degree of fear that I have in regards to starting this adventure.