Still, at least 20% down on each home.  

Also, you guys will have to decide what you're willing to put into the home.

Realistically, if rents can't keep up with costs over the longer term, fewer people will buy rentals and there will be fewer options for those who can't afford to or choose not to own a home.

We were outbid on the home, but there were still unbuilt lots, though none for sale.

For example: If a property is listed at $1M, typically sellers will require a minimum of 20-25% down but not always.

@Rehaan KhanPlenty of very good real estate attorneys out there and especially good ones who will tell you you all the risk involved - which is why many shy away from many of the “creative” financing deals going on right now which are just unqualified buyers finding ways to buy a home and those attorneys do not want to be part of the lawsuits later on.

Also, like Erik had mentioned, lenders will typically cut from the initial advance to ensure that the full rehab is funded.

I plan to access some of the equity in my home, along with cash on hand, to purchase and reno property.  

Excellent managers may already be working for someone with several homes, or may be running their own homes and do not need the extra income.

I currently live in a 1,000 sq ft home on a 7,000 sq ft lot in San Diego county.