I for one think it would be a mistake to buy a 10K property without the capital to cover your *** when things go bad.

Very easy to pull a bad comparables if your Realtor doesn’t know what he’s or she doing.  

Not in the sense of bad properties or anything, just in the sense of too many rentals in the area and the gov't might try and step in to stop it.

There are bad boy carve outs that can cause the loan to go recourse.

If I have a bad appraisal, I just pull that property out and put it in another portfolio for a different bank.

Tenant had bad credit which he explained (540-570); I wanted to rent the apt for the winter so I wrote a 6 month lease and explained we could extend if all goes well (lease dates Dec 1 - Jun 1).

Every market has its good areas and bad areas.

View report*This link comes directly from our calculators, based on information input by the member who posted.this is my smallest deal to date. Bought property for 13,500 plus 3500 to wholesaler. sol...

I found this on State Farm's site:https://www.statefarm.com/simple-insights/residenc...Kalapana, SW of Leilani Estates where the current flows are, was hit bad back in 1990 (?). 

As I mentioned, we are eager, but as beginners we are also cognizant of the detriment of buying a bad first deal. 3.