It's encouraging to know that even though 20K is not a lot, it is sufficient to get started ... as long as I can meet those requirements. 

Is a contractor really sufficient?

Once I learn how to sufficiently manage my own property I want to offer it as a service to other investors.

Different markets can provide vastly different opportunities and challenges. 

Note that FHA and USDA loans have mortgage insurance, but do not have private mortgage insurance, so this isn't applicable to them.It's actually pretty complicated; sufficiently so that I try my best to answer "when can I drop my PMI?"

Do you think thats sufficient coverage? 

Having just said that aloud, it just dawned on me that they probably have to have sufficient financial standing other than just a good credit score to back up the deal and sign off on a personal guarantee.  

I'm a Marine and I would say a vast majority of my peer group is perfectly content spending their entire monthly paycheck each month living large.

Since so far I have six townhouses and one apartment based on capex this model won’t work for such land focused properties .a capex floor sufficient to cover the mortgage.

If you'd like pricing that is similar to clark you'd have to go out to san bernardino county  where a fourplex is still 550-700k.One downside with FHA and 3-4 units and the subject is severely talked about over and over here on BP is the self sufficiency rule.