Many suggests cold calling, door knocking, and farming your base etc but after listening to numerous podcasts I'm hearing that door knocking and the "beggar" approach isn't necessary with proper marketing but that's where they left you hanging.

Being a new investor, this leaves you having to figure out things on your own when the lender or mortgage broker really should have asked the necessary questions and given you the necessary explanation of loan options.The key for you is to be sure to let any potential lender know the purpose of the loan and your basic plan with the property.  

I can give you anecdotal evidence - there were numerous 1BRs that sold for below 100k around 2010, for example on Summer St and Glenbrook road.

@Jeff Bridges That explanation makes sense.  

I have been absorbing them and have heard numerous episodes that address your very question.   

The approach my investor had was straight talk about the numerous issues he saw, some of which were not mentioned by the GC:  foundation, water damage that may have come from the outside, perhaps from the runoff from the neighboring property, rotted base boards in the corner (water damage) that could mean deeper issues.  

Thank you Matt. your explanation greatly appreciated

But in commercial real estate your risk is lowered extensively by doing proper analysis of properties and only moving forward with the ones that are numerically "Good Deals."

I've read your books 'almost nothing down' and 'investors guide' and love your clear explanations and examples.

You may want to do a search here on BP for the explanations of NOI, COC, IRR etc.In any case, good luck with your first investment!