I don't know the prices in your market but $10k probably won't get you far when you consider $10k/3.5% = $285k purchase price and that doesn't include closing costs, keeping reserves, and potential repairs.

Find a market you like with a good future (strong schools, job market, low crime).Learn how to analyze property for good cash flow.Get your finances in order with no debt, a good budget, a personal emergency fund, enough money for the down payment, and a reserve in case anything goes wrong with the rental in the first 6-12 months.Buy.Immediately start educating yourself on how to manage problems (application screening, late rent, unauthorized pets/people, etc.) and saving for the next investment.Here's a guide that describes what good cash flow looks like and how to analyze a property.https://www.biggerpockets.com/...

I have 6 months plans to wholesale to build up reserves and by Dec 2016 I would buy my first duplex, triplex, or 4 plex to live in one of the units.

I have slightly over 55k saved and will have close to 70/80k in reserves by that time .

What about reserves?

@Eric DeVitoDo your homework (a lot, but the return will be much better than a letter grade if you do well), be conservative in the sense of building a reserve, and do not stretch yourself too thin.You wanted a story?

Peace on Earth and Good Will Towards Others" need not be a sentiment reserved for the holidays.

I'm a buy and hold investor... that's the only reason I have not flipped it. this is my 4th multi family and I have 5 of them now...so I'm just at the point I'm ready to tap equity to leverage to purchase more doors and not tap into my reserves to do it. 

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Now we are married and do a % income split based off how much money we make, with leftovers after expenses being reserved for future down payments on more property.