"They" all seem to say that though it may be difficult to get involved with little money (I've only got $10k to invest), that it is possible. 

I can make fully rehabbed properties in decent areas after rehabbing and after my fees, and leave 10-20k real equity in the property and 8-11% cap rates.

Find a home you can rehab a bit and force appreciation, and over the next 6 months-1 yr (maybe more), you MIGHT be able to refinance your loan to pull some equity out, although I heard this was difficult to do now on rental properties.

Matt Kistner It should raise a red flag when it’s $39K :) But, seriously, odds are it will be incredibly difficult to get a mortgage on a $39K property.

No exceptions if you expect tenants to learnI have had to do that in the past to teach difficult tenants that I mean what I say.

I feel like a 6-unit compelx is not as difficult to manage as a 10 or 20 unit complex.Can someone please provide some insights?

(there is a phase out between $100-150K)As a "real estate professional," the phantom loss of depreciation is not capped -- you can take unlimited losses. 

Also, what are you factoring in for maintenance/repairs and cap ex?

If I didn't it would be very difficult. 

That's exactly the kind of feedback I was looking for in terms of, I wouldn't have thought of the 2 bedroom having a rent cap but that makes total sense.