I have been doing my due diligence and getting multiple bids to renovate and update this property.

@Travis KemperThere are multiple possibilities:Leave the money in employer 401k and get a loan - if available: If the 401k plan in which you currently participate would allow to keep an outstanding 401k loan when you leave, that may be an option.Rollover to Checkbook 401k which would enable you to either (a) invest directly in real estate or (b) take a 401k loan towards the down payment: If you will have self-employment income you could rollover employer 401k funds and IRAs (but not Roth IRAs) to that Solo 401k.

Then, whatever number you have set for yourself, multiple it by 10.

He is a member of BP and has multiple investment properties as well as being a highly esteemed CPA.

By not putting 20-25% down it is causing you to run extremely tight margins, which in turn could put you in the red when faced with a multiple unit issue.

I'm considering my first deal, a small apartment building.  I remember hearing on the podcast once someone mentioned when they offer they submit 3 or 4 different offers with different financing structures to make sell...

3. speak to multiple real estate broker and property managers (if you are intending to use them). 

@Bradford Behrins That's actually not true because in Florida now there is multiple title companies that will provide title insurance at a higher rate for properties purchased through the tax deed auction without going through a quiet title action.

It's really hard getting a good look at multiple lenders to start with, making sure to ask the right questions.

@Jeremy England I would not hold any property especially if you have multiple qualified applicants.