Your best bet is to find a multi-family property that is mis-managed, has below-market rents, or needs to be renovated; then you can take the steps necessary to improve its performance.

We're excited to get to know this community and interact with many of you on this journey ahead. 

I have the financial means for a healthy down payment and would like to get started on this journey.

I bet you have good pies up there.

Your best bet is to be honest and explain the circumstances.Perhaps you could talk to them in advance before you spend the money and time for the classes.

If the numbers work and the market sets the price then a 500k investment for a 2 br/1 then so be it.I agree that location, weather, land availability, and jobs(salaries) all play a roll in the cost of a house.Do I think its crazy to pay that much....you bet.

Pretty sure both those first choices are loan fraud, unless everything is disclosed to the lender and the lender agrees.A rehab loan or hard money loan with a rate-and-term refi is your best bet, IMHO.

However, my bet is that ten to fifteen years from now these may very well turn into high-density section-8 tenements.

I'll bet all five of these houses are sucking several hundred apiece out of your pocket.

You're losing money every day you hold it because of the monthly loss.What you're betting on is appreciation.