You can do as little at 3.5% Down Using an FHA Loan but you will likely have an issue with passing the FHA Self-Sufficiency Test is you go over 800k. 

Hello fine people of BiggerPockets,I recently stumbled upon a startup, which is far as I can tell, looks similar to something like a Fundrise, just using the blockchain and tokenized real estate shares for cheap, and I’ve been contemplating getting into it.

Therefore your 20% down-payment (for a CA property) will be more than sufficient to acquire a 4plex somewhere in Texas and also provide a reserve and living costs immediately. 

Step 1, get the land under contract with sufficient DD and extensions for hard EM.Hire architect for siteplan then you can shop the deal to a developer who will buy it from you.

If so, great - I will assume you are self-sufficient unless I hear otherwise. 

This measures the amount of income put towards revolving and installment debts, such as car payments or credit cards.Your lender wants to ensure you have sufficient funds.

Vacancy and vandalism can be a lot more costly than anticipated so make sure you have sufficient reserves.Best of Luck to you.

The thinking of a borrower having a higher income where 45% of their income is sufficient to live on is not a consideration in keeping the loan from being predatory.

From our experience, we have had to justify the desirability of the market, quality of our product and sufficient cash flow to justify sales price.

In my experience this is necessary, but not sufficient in the event the original seller changes their mind about what they agreed to.