Not too low either, you don't want to go with someone who is just focused on price as this is a quality of a not-so-great accountant.

Many investors don’t feel comfortable submitting low offers on homes listed on the open market (MLS).

So, hard money would encompass most if not all of the following characteristics: not credit based, loan amount based on the value of the hard asset offered as collateral, high interest rate and high points, short term loan, relatively low LTV, low documentation requirements, non cash flowing properties still considered. 

We are seeing appraisals come in low as of lately (this varies per market, but generally lower than anticipated). 

Do you want 100k in a maintenance hog, or do you want to have  50% of a really nice 200k property, or 25% or two 200k properties.The other piece of information you have to find is what returns you could get on your money if you bought something else.  

Should we try and do an easy flip that is a low risk, maybe use a turnkey or something?

Saving around 10,000 would take me twos so if I'm able to get by with a lower down payment I will gladly do so..I understand  concerns that the lower the down payment  the bigger your mortgage and that banks offering low money down loans partly caused the recession....

I read an article from GNAIR a month back that inventory is at a 10yr low and prices are up 10% over last year.

And as for the house --it's in Quincy--south of Boston --walking distance to public transportation --right in Quincy Center--there is a major development under way.Current Rents $39.3K a year (probably a bit low still)Taxes/Insurance $11K a yearWater Sewer $1200 a yearI've never had a vacancy in 10+ years but accounting for 5% vacancy this gets to NOI of $25.1K per YearAsking Price:  $630K.  

My specialty is buying distressed property at a low value and then reselling either wholesale or retail.