I was away for over a week and am late in acknowledging your comments and support. 

ThanksSurely the agents will make you believe it's always a good time to invest, that's how they find thier clients.

A 3/2 or even 3/1 on the other hand should rent at $1250 - $1400 all day long.You can probably find comps to support the $120k price and if the home is nicely renovated it may actually sell for that much, but I believe most 2/1 homes selling at this price are the ones selling to owner occupants, such as parents buying a home for Jr to live in during college.

Ive got a wonderful wife who is very supportive of me trying to make this real estate stuff work,  and two kids that are just the best.

Until you can afford to live on your own and support yourself you can not afford to invest or get married and start a family.

My wife has been very supportive of this dream as I've begun to jump into it and our three kids are a good motivator to plan well for the future.While I currently live in California, this is my sixth state to live in, so I've gotten to see some vastly different areas of the country and intend to start my investing career somewhere cheaper than San Diego.

The low down payment helps me keep a lot of cash in my own pocket to support the rehab and stay liquid.Private money is nice, but sometimes can be difficult to use in conjunction with hard money. 

This lot will support 2,800 buildable square feet so we are looking a building a main house then an ADU (Additional Dwelling Unit).  

If you are buying through a realtor, they should have checked with their client to begin with when they listed the property.As far as the utilities, both City Public Service(elect.) and San Antonio Water Systems charge the person, not the property for their services.

@Eric Gyasi there are a few companies I use for my clients in these situations.