If anything there is more demand for cheap housing.  

In the long-term, I expect I would hit my 10 loan limit before reaching my income goal if I buy cheap, but the percentages obviously look much better for those properties in the short term.

My thoughts are you seem extremely cheap.

We've got a certain area of town, where homes are typically built from 1960-1980 and they can be as cheap as 35k if you get a really sweet deal.

I found some nice ones so nice and so cheap and I know I can make $10,000.00 a week but I need a full time partner to be able to perform my advantage is that any construction materials I can get am for half of the price and most of the time almost for nothing and I am a subcontractor with tools and transportation and lots of experience in remodeling.

are you kidding me... your seriously asking this questions :)  this is the holy grail of private money.. wealthy individual giving you unbelievably cheap money... whats to worry about.. 

Granted ill have more responsibility with maintenance but that is living pretty cheap.

If you're able to afford a multi-unit, namely a 3 or 4unit, that's a fantastic first investment and a cheap way to live. 

If you have a good portfolio you will always be able to find cheap money with good terms. 

Even with subway tile and extra labor, it was as cheap or comparable to Formica and looks much better, last just as long or longer as well.