I make up for it by having higher amount of liquidity and alternate income (outside of my paycheck) vs something tied up in a property that is my primary residence....1.2 is a good chunk outside of CA... you'd typically see something around 1-1.5% rents to purchase price and at the price point you'd be able to get a portfolio of multiple properties.  

@Jay Hinrichs How do you typically set up these bird dog monthly payments? 

Bedbugs are typically brought in by individuals.

. — Is it typical for a lender to know or not know which one they use?

Typically, your partner would also have equity. 

Is it typical to pay the same minimums for small apartment buildings?

you are wasting your time. a typical newbie mistake/goal....

Typically you'll get an excel spreadsheet and it gives you an opportunity to see how the building is really performing.  

If you buy a minimum of about 30 apartment units you can afford a Property Management Company and save your self the daily operations and maintenance which s typically what you want with a W-2 job. 

Open houses are typically great, low pressure ways to get inside houses if you are only trying to get comfortable looking at properties.