This is a lot more common for the size of group/investment you're talking about. 

In addition to that...... in any market when ever a new employer comes to town you have to look into who they are employing and what THEIR budgets are.

I think in all honestly that this is a losing strategy under current market conditions, and have seen this strategy employed many times by investors I work with.

Not sure what you're employment situation is, but learn a trade like plumbing, HVAC or electric.

He said I could do that as a rental as long as they got continued employment verification from my current employer.

It's also important to keep in mind that every additional rental property you own is another potential source for legal trouble, so if you grow to a certain size, it's almost inevitable that some tenant will get a valid reason(such as falling through a porch you didn't know was recently termite infested) to sue you over a 10 year period.

Many buyers have to overreach to purchase pricey houses, so an employment slowdown can send properties back to the bank.  

If your main priority right now is strong cash on cash return, one way investors achieve 15% returns is by identifying opportunities in once sleepy regions that are now becoming trendy, or quiet suburbs that have a sudden growth of employment. 

What size multis are you looking into?

You must be self-employed with no full-time, non-owner, W2 employees.