The sweet spot for many cash flowing markets is around $85k (with another $20k in reserves), but if you're fairly much relying 100% on borrowings, the cash flow part of the equation becomes that much harder to remain positive.

Speaking of appreciation, I'm not a fan of factoring that into the purchase equation because it's ultimately all speculation.

Expect at least a month before you will receive your first month's payment.Now, having said that, I have had very good experiences with the Sect 8 departments for Independence, Belton, Liberty, and Gladstone, as well as others.Of course, the Sect 8 department is only 1/2 of the equation. 

thanks for the comments bryan...my blog isn't necessarily only about small local banks, but i think tha's an imporant part of the equation for a newbie, so that's where i started..thanks again.

I feel really bad for you big pocketors , this equates to rich people problems.

@Angel Dejesus 184k with 20% down would equate to $147,200 financed.

By your description your property is at least class B which should equate to easier management than class C or below.  

For a young guy with little REI experience, I can always bring my CPA and Big 4 experience to the table and add value to a partnership on the financial side of the equation.

Get your contractor's license and take the builder out of the equation. 

You, since you don't have money, provide the "time" part of the equation.