Would you say that holds true in this space, or is there a way to keep the discussion on the level of cap rate discounts and/or rehab costs with a multiplier (1.5x or 2x?)

Some, I pursued early and failed or succeeded on a small level. 

The lender will factor the experience level and the size of the project into the equation.

Also, Bend is having growth pains, with skyrocketing housing prices, that may prevent much entry-level investing soon.  

You'll find going for your first sale will slow down your training on other things, a reasonably stable yearly income level normally takes 18-24 months IMHO, becoming really good could take the rest of your life....

Not looking for funding at this level, but it explains the principle.A current deal i have is purchase price $43k, (deposit on day of 4.3k) remainder due several weeks later.

At the highest level we are buying a 3 family house where we will occupy 1 unit and rent out the remaining two units.

We love the Atlanta market, but the pricing has inflated to such a level it doesn't make sense for us to buy there.

I think its important to level the playing ground.  

Higher caliber friends aren't going to spend time with you unless you have improved yourself, at least somewhat, to their level.