I bought a brick 1,300 sq. ft 3 bed 2 bath house that was just under 2 years old for $129,900 that was about 8 miles from campus, on the edge of town. 20% down = $26,000.

most of your small commercial banks in town will take a stab at it.. if you have deposit relationships with them that are meaningfulPremierlewis and clarkM and Tpacific continentalbannerthen you have the credit unions.

Make sure the unit does not have any chipped paint if it was built before 1972.

South Lake Tahoe just put a cap on the number of VHR permits they will issue, so you probably don't want to invest in a property in that town, for now.

Ian O'Shea is the best in town.

I'm in the process of closing on a Property built in 1940 in Sacramento.

.% down of the purchase price and the rehab costsCan be used for primary residence with 1-4 units (could also be looked at as a disadvantage)  When using 2-4 unit property, projected income from other units can be used to qualify 6 months' worth of mortgage payments can be rolled into the renovation budget if the house is deemed uninhabitable by the HUD consultantCredit scores can go down to 600s (lender dependent) DTI can go to as high as automated underwriting system allows (typically 56.9%)Allows you to buy a property in any conditionCan use it to fix minor repairs all the way up to basically a full tear-downFHA 203k Disadvantages: Interest rates tend to be about .25-.5 higher than regular FHA loan Additional costs include HUD consultant fee, inspections, title updates, and supplemental origination fee (Cost of doing business, but this is built this into your numbers, so it's no big deal)Must use a licensed General Contractor for a full 203k or up to 3 specialized contractors on the limited 203k Must hold onto the property for 1 year and live in it. 

This is a great town with lots of great pockets to both live and invest in. 

I believe there is a monthly meet up on the north side of town that would be beneficial, you could also look into GaREIA.

The property is located in my home town of Charleston, WV.