I recommend buying the highest overall quality property you can afford in an area with solid underlying fundamentals (jobs, population growth, good schools, low crime, desirable area with high appreciation potential), don’t get over-leveraged, have sufficient liquid cash reserves, get as much cash flow as you can, manage your properties or property manager well, take care of capex issues before they domino, excel at your day job until your rental income is enough to cover all your expenses and fund your retirement, and you’ll be fine even if we go into a recession.

Any act is sufficient as longas the property is left free and open to anyone who comes along to claim it.

Quality over quantity. 

This is what I do, don't feed the debt monster, in other manage debt, and make sure your cashflow is sufficient to cover the bumps along the way

The amount you have to work with is sufficient if you do "Subject To" investing. 

Yes, FHA is possible but there are self sufficiency requirements that dictate your ability to use 3.5% down.  

The quantity of day 1 cash flow says nothing about the quality/volatility/passivity of that cash flow.

@Stephanie P.I had to look up the Self Sufficiency rule for 3 or 4 units (income from the 4 units should cover mortgage).

Yes, there are a lot of bad brokers in it without a lot of respect for buyers/sellers.However, I'll give you some of the issues I face and questions I ask:1) Not enough money - Do you have proof of funds sufficient and are you clean enough to qualify for financing2) Non-specific - What do you mean by a steal? 

Do they have sufficient employees for the size property you have?