But right now, I wonder if a total newbie in this should really be trying to get a small loan (50k) to purchase two house around 60k each?

Short story, I recently purchase an investment property. 

I purchased a duplex at a shore town in NJ.

Apartment buildings can be a great investment but you have to buy in an area that is appreciating and purchase a building that has good returns, hi-occupancy, and little overhead. 

My first real estate investment was in Syracuse NY in 2005.I relocated to Augusta, Georgia in 2006 to learn with a multi-family investor/mentor.And then in 2009, I founded Auben Realty, which has grown from a small local shop to a regional presence with current locations in Chattanooga, TN, Columbia, SC, Greenville, Atlanta, Charlotte and Jacksonville.Recently, Auben purchased a property management company in Kansas City to begin our Midwest expansion.

Purchase Discount: It's crucial to buy properties at a deep discount if you plan to BRRRR and get cash back.

Especially under the TPC, the disclosure should be in writing with assignor, assignee and the seller (titled owner) acknowledging the assignee intends to assign the contract and not consummate a purchase.

The question is, how much leverage is the investor using to purchase the property and at what interest rate.

My plan is to hold onto it as a rental property, targeting Section 8 tenants, as the rental income is quite attractive at nearly $1,500 per month.Here's the challenge: The property's purchase price and labor is below $40,000, and I'm uncertain about my ability to secure a traditional mortgage for a property at this price point.

@Drew Sygit I already possess the necessary knowledge and am in the process of due diligence to purchase a home.