Yes you can buy properties extremely cheap there but the flipside is that once yoI've rehabbed them, recouping your rehab and purchase money will prove difficult because of the low property values .  

Base Rent is money that goes to the Landlord.

Don't overthink it, househack if you can to start, keep educating yourself and saving money and you'll figure out how to buy the next properties afterwards. 

Their idea of managing their investment is "not spending any money today".

I have been thinking about getting a personal loan to have as money on hand in case something unexpected does happen.

You would have to buy that property (or a % of it) and then contribute it into a new LLC.Since you're buying the actual real estate as a tenant in common it does become a little easier to deal with the debt.   

The rich get richer, and like George Carlen said--it's a great big club...But given that....don't see the glass as half empty, instead see it as half full.If you want to be a big fish (accredited investor) RISK your investment money in things you think will get you to that goal.

if it is just the financial side holding you back - let your bank be your partner… or see if you can borrow the money from a family member who knows and trusts you -  without actually partnering with them on the control of the deal itself (pay them interest - or even bring in on the lien to secure their position the first time) - but let them be the finances and you control the project. 

If the owners purchased very recently or invested a bunch of money into the property it will be unlikely they will accept a lower down and an extended repayment period. - Little to no existing debt tied to property.

If you don't then I recommend you use that money to buy some liens.