Buying in expensive markets is doable and possible.

With 20k I was thinking homepath also, but I though a 100k home would be doable in Berkley for example.

I think 10-20% is definitely doable, but there is some work that will need to be done! 

I was looking at crowdfunding too, but don't know too much about it.The numbers:280k ARV125k purchase50k 3-6 month renohard money loan 150k 10.5% interest, 2.5 pts, 3k in fees (appraisal, app, background, closing, legal, underwriting)cash-out refi 5k closing costs, 70%LTV, 6% = 196k which would cover all of the costs and leave nothing in the deal.short sale, good foundation, and roof, in need of mostly cosmetic work. located 5-minute bike ride from where I went to college (which is notorious for not having enough housing) and a large hospital, 3k/mo rent is very doable and with a 70% cash-out refi, the loan would be like 1200/mo, and another 300 for taxes and insurance. 

Therefore, you can buy deals with tighter margins.But if your goal is to have more freedom and you have the cash reserves to pay other people, you will need deals with larger margins to afford to pay others.Is it doable?

To meet the 2% rule, we would have to get about $55K, which Im not sure if that is doable.

Definitely doable and a great wealth builder.

Is the doable?

Yes, you'll probably need to work a bit longer, and unless you have alternative healthcare (I get mine through the VA) you'll probably need more than $50k, but it's very doable in a short time frame if you're smart and lucky about it.

I was going to say that you can buy stick frame fixers nearby in lake for well under 100k, and while you won't find a lot of 2% deals 1.5% is doable.