And if you don't have the ability to buy them all cash, a lot of these deals aren't going to be accessible to you (most require all cash purchases).The next step up are $55k-$80k places.

They have the ability to work with several different companies to find you the best coverage...not just State Farm. 

It’s widely accepted that real estate is America’s best tax shelter, but when you consider its other benefits (income, control over investment, forced appreciation, the ability to leverage, and protection from inflation), it’s easy to understand why real estate is also America’s best investment, and your best path to that most sought-after lifestyle…Freedom.Ian Parrish

IF it's in Damascus I would question the ability to find roommates for it. 

@Theo Hicks it seems like the consensus is that I need to think bigger for sure, especially due to the legal costs like you mentioned and the ability to get a good PM in place.

There is no job growth.

@Chris SeveneyWhen demand is high and supply low........Sometimes, the best deal is the one you pass on.That being said, utilizing creativity, which depends on many aspects, such as knowledge, experience, ability, etc., can lead to returns far above the risk related thresh hold.Since we are unable to find a satisfactory number of commercial notes we can buy at a large discount and restructure, we have done some creative type investments.

Do I just photocopy the receipts and send them a bill?

Personally, I wouldn't even start looking for deals until this was lined up because when you are up against a lot of excellent cash buyers and you are interested in getting deals with equity, you need to have the ability to move quickly and decisively---be the buyer that is remembered and the deals will come :) 

@Dimitri PaspalarisFees aren't the point.The long term growth of the stock market is 9%.The long term growth of real estate has only been 5.4%.Does it mean you shouldn't move that stock in REI?