This is especially true for low down payment multi family homes.

You can collect a down payment in many cases.2.

For instance, FHA loans frequently permit smaller down payments for multifamily buildings, increasing accessibility for owner-occupiers.Examine the Cape Girardeau, Missouri, local real estate market.

You'll want to look at a trust as well to get an extra layer of protection.

You can be mortgaged to 85% with Freddie Mac if its a single family house with the cash out refi although if you go that high there will be private mortgage insurance to pay for , either monthly or in a lump sum payment at closing. 

You should make sure that the rental revenue meets all of your costs, including the mortgage payment, property taxes, insurance, maintenance, and vacancy allowance, since monthly rental prices might range from $1,000 to $1,600.Property Appreciation: Take into account the market's expected and past rates of property appreciation.

Based on what you're describing, I think your going-in criteria is definitely something that is strong *however* your goals may not match what current market reality is.When you say $3200/month payment - do you mean $3200/month before or after accounting for potential future rental income from your tenants in the other units? 

Trust me :)

If you go to the clerk's office you can read the actual foreclosure file and at least see when the last payment was made from the initial complaint.....then you can guess at accumulated interest, late fees, any taxes or force placed insurance, attorney fees, court costs, etc.

. $800 per 2 bed /1 bath unit. quick mortgage calculator puts zero% down monthly payment at $3500, plus then offset with $2400 puts you on the hook for $1100.