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I would, however, just urge you to lengthen your time horizon.

Hello am new here am nate and purest of rookie.. got nothing in my back got some dedt that can't seem to pay off car is falling apart.. and still live with parents.. still have this drive to buy a house and just rent it out or do the FHA loan.

@Jonathan Klemm thank you for the response.I’ve been looking in Humboldt Park mostly since I am very familiar with the neighborhood and its in my purchase range.I do not currently have any investment properties - just been analyzing deals.

I would not be looking to make a profit off of them monthly as I might with a traditional renter, just covering the costs of the house. 

Just to add here..

Just a few hours from Sacramento.

Just adding my two cents.

The answer is it depends.Generally most people on here are investors and Arbitrage is just a job.

I'd say about 50% of my acquisitions have leaky toilets hence it should just be general practice to address this up front.