I wonder do you recommend a novice invest in lower cost properties to start?

I would much rather deal with a commercial lender because I would think that the rates would be lower.

Our breakeven rent is nearly 30% lower than current rent so we have plenty of room to cut rent if needed.  

Cost will be what @Marc W. said and this is based on level of finishes you want as well. 

Each stage of the lifecycle determines the level of participation that you as a bidder have.

Otherwise I'm hoping to find tenants who are willing to take on helping manage the property in exchange for slightly lower rent...either that or hire a property manager.  

Although it possibly will be a lower rate than what I'm at now, it's still something.  

Fortunately, we have a good report with the agent(s) with whom we work and they bring us lots of {potential} deals (on, off and pre-market).In short, it is not at all necessary to have your licence to be an investor here, but it could be beneficial as it can lower your selling costs when the time comes.

If you can do that in your market you can figure out what level of appreciation homes have in your area as well as what he rental growth rate is...you then have a decent predictor of where prices and rents will keep going.

We worked with an appraiser before where the market value submitted to the lender was based on comps which did not take the planned upgrades into consideration resulting into a much lower projected ARV.