A 2 bedroom apartment here ranges from $2200 to as high as $3,500 depending on the area.

We itemize under each category with specifics, here is an example from one of our move-outs:CREDITAmount held as Security Deposit: $800DEBIT Less Deductions for Missing Items: $3010 year lithium battery from smoke detector ($10)Seat cushion from kitchen bench ($20)Less Deductions for Damages: $170Patio – stain ($20)     Living Room – one broken window pane ($50)     Living Room – five inch spot on carpet from black sharpie pen ($50)     Living Room – one broken wand on blinds ($5)      Front Bedroom – one bent curtain rod ($5)Back Bedroom - door handle bent ($10)     Kitchen - cabinet drawer wood broken ($30)Less for Extra Cleaning $110Stove Top ($25)     Range Hood ($20)     Kitchen Sink ($20)     Ceiling Fan ($15)     Walls – extra cleaning of grime & pen marks ($10)     Floor Vents - debris in ducts ($10)     Outside Debris ($10)Less for Unpaid Utilities $12     Electric (changed by tenant too early, $12 for Nov 20 to Nov 30)[Credits $800 Less Debits $322 = $468]Total Due from Landlord to Tenant (Check Enclosed) $468

@Leigh C I would love to work with a mentor but the ones I've found in my area are out of my price range.

The home can have up to THREE extra Units - but if it does have more than two, there will be a self-sufficiency test whereby your mortgage would need to be 100% covered within 75% of appraised rents from those other Units.

You can work with agents or investors locating distressed properties, motivated sellers, and any other range of creative ways to get leads. 

John, because of the rural nature of the Lakes Region, I think you'll find that it's difficult to form a group that is sustainable with sufficient attendance. 

I have seen down payments ranging from 15-25% to get conventional financing on an investment property, really looking to put as little down as possible.

I have not picked a property yet I was checking to see what range of property i could afford based on cash flow.

Owning a property in urban areas is perfectly fine as long as the numbers make sense.I use multiple online tools to find listed, unlisted properties in Minnesota and have properties in and outside of Minneapolis (200 mile range). 

Financing through a partner...and looking at most likely range that section 8 would pay to ensure that my annual cash flow is worth investing in that particular neighborhood after rehabbing the property, insurance, repairs, etc.