state=NEW%...I wish I had more money to put down but 10-20% is going to be extremely difficult if not impossible.

As someone who focuses on numbers, it's nearly impossible to outbid the family who has found their 'Dream Home.'

Just like what most folks do here wholesaling requires a licnese but most just skate around it as its such a big transactional business that its impossible to police..

I think it is going to be impossible to get a traditional mortgage without the 2 years tax returns.

Achieving 5% is very challenging not to say almost impossible.

That's a pretty impossible question for anyone but you to answer.The great news is that you have one UNBELIEVABLE advantage over most RE investors in the world -- time.

Not saying it's impossible, but...Out of curiosity, why are you trying to work with an agent instead of going directly to sellers and landlords?

Which basically means the inspector may require you to update everything in the house to current code which in some cases is virtually impossible or may cost signifant money that you weren't planning to spend.  

It will be difficult for you to fund this deal, but not impossible.

If they are unsophisticated and/or motivated enough, they won't know/care.But, if you want to buy from banks (REOs/short sales), auctions, sellers represented by agents, etc, you're going to find your "offer cash, close with loan" strategy to be difficult or impossible.