The key to all of this would be finding a great 203k consultant.

I have written an article in my BP blog Three Key Routes for Passive Real Estate Investing that might give you some ideas.

If you can find a turn key place, with tenants already in it and it is already managed, and it cash flows...consider getting a personal loan, using your TSP for a loan, credit card advance etc for the downpayment.....if it cash flows only....Some markets a duplex is 250K, while others it is 129K...20% of 129,000 is not unrealistic using other creative ways to get cash. 

But even the deals we find from other sources aren't even close to the 70% rule. 

@Matt Baker If you can make strong cash flow margins and it's a turn key, i'd consider that a win for sure. 

Keys!!!

Usually after you pass over the keys, the landlord will take back ownership.

There are around 220 units under management with nearly a 1:1 unit-to-client ratio (which helps negate concentration risk), and the annual revenue across all sources is approximately $600K.

I made a cash for keys agreement with the occupants to stay till JUne 30 2018.

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