Typically, that many units in that price range means the property has somewhat substantial deferred maintenance.

Fast forward a few months later--the house has been completed and despite being in a new job making substantially more than the amount she previously made, she now finds herself with the prospect of losing her down payment of $17k with only three days left to close!

I’ve read stories about people buying a portfolio but having each individual property appraised prior to purchase, and then either cash out refi or sell individual properties out of the portfolio for substantial gain.  

Like any investment, I understand that real estate takes time, energy, money and substantial knowledge in order to succeed.

Another consideration is where is the commercial market headed?

@Anthony NA@Brandon Rush hit it right on the head.

Seems like I'm at a bit of a time disadvantage even saving $1K/mo.I have yet to read his book on investment with low or no money down, but it's in the mail heading my way.

Can't bury your head in the sand on this one. 

It would be really easy to get in over your head real fast.  

Typically if a resident gives us a heads up that they will be late and are good residents we will work with them to an extent but try to get the rent paid by the 15th.