As opposed to residential, where you can give as little as 3% for an FHA loan if it’s your primary residence.So here is the scenario:The property that I am looking for is a two story building.

The best place to meet local investors other than on BP is at networking events! 

@Samuel Albert I would recommend attending some TREIA events in the triangle area.

Not opposed to looking outside the area, but felt it would be better to be close by for an initial investment.Andrew

Hi everyone,I'm currently a Pro Member but I was wondering if I could post in Events (I host a Meetup in Atlanta/Alpharetta).

I'm an attorney and financial advisor and see lots of engineers at events. 

https://www.biggerpockets.com/forums/521-events-and-happenings

My gut from your description is that this is a tax deed sale, as opposed to a tax lien foreclosure.

You will likely be "self employed" as opposed to a w-2 type employee.

In any event if you assume $25 sqft for rents your NOI will only be $250k so your in at a 5.5 CAP of all goes as planned.