I'm not sure that you would be approved for the Private Mortgage Insurance (PMI) that would be required for less than a 20% down payment.With that said, I would like to give you some help toward making your dream a reality.1.

Reality is, you have to spend good amount of money for marketing to get a good deal.

It's really just meant to pull you into a reality based idea around what the actual market really looks like.  

One thought they had I think was tongue and cheek and brought out the SPCA.The reality is if you bought in a C area is this is something that wholesaler turn key guys deal with on a daily bases they just try to get the houses sold to their clients as soon as they can so the risk then goes to who ever buys the house..

Its assuring to know that I dont have to spend an arm and a leg to make this dream a reality.

And bad management seemed to be the constant factor on the cheap properties.Lastly, as an investor, I am perfectly happy with 8-9% returns as long as that return is consistent and I can see where the management of that property is going to help make that a reality.  

I very much appreciate the reality 'slap in the face'.

Now let's look at reality...Since you don't already have a job, you will need money to live while you are either rehabbing your place or job hunting.

It's putting a strain on the producers and giving the takers a false sense of reality. 

Houses we were buying 2-3 years ago, we were purchasing for 2% of the monthly rent ($800 would be $40,000) now that number is looking more like 1.2-1.4 So, my question is, have you guys been facing reality and continue to buy with these smaller cash flow returns?