There have been many published studies from managers of many rental units that give the data that supports this rule.

@Jeremy Taggart I'm still a newbie when it comes to the finer details, but I believe there is a limit on the value of the VA loan you can have.

You would know this if they have had a reserve study done and that study would indicate the amount they should have in reserves. 

Study the market a while before you invest.

Don't put a time limit on it.

.$20K is definitely on the low side so your options for fining a note in this price range will be limited, but it is not possible, there are some out there... just be sure to do your due diligence and make sure that the underlying property is not a piece of crap, be prepared to foreclose in a case of a default and become the owner of that property.

We got the property under contract 4/14 (the day after it was listed), and were set to close 5/14.We were really excited that our mortgage company told me the asking price is under the FHA limit for a triplex. 

This includes the vast majority of residential landlords who own their rental property as sole proprietors (who individually own their properties), limited liability companies (LLCs), and partnerships.

The months for building are limited.

Hello fellow BP'ers,I am taking a year to prepare and study (a request from my wife) before entering into the REI world.