then i found this site and am checkiing to see if i am being realistic in thinking i can possibly get a loan to finance this deal.

That said you need to be realistic that it isn't going to put you directly in touch with the individual asset manager for a particular property in most cases.

Have a best case, worst case and most realistic case case pro formas -- If you cant make a little money on the worst case or break even then I'd walk. 

(When offering this scenario of up to 50% upfront, you will be working a first-second mtg strategy, where you get a private lender to fund your down payment of up to 50% in a first and have the owner carry the balance in a second)I should also mention that with a first-second scenario, you can use hard and private money and still get a realistic rate for cashflow purposes via blended interest.

Realistically I plan on managing it myself to start out.3.

Is this realistic?

A guy name Arnold Dormer built a ton of homes in Frayser that were essentially tenant proof as best they can.Hire a Ninja Property Manager or if owned local, be very proactive to vacancy Once vacant, secure itScreen well, but be realistic.  

I've heard that margins are slim in Colorado Springs and I don't want to pass on opportunities if I'm chasing the averages I hear on podcasts if they aren't realistic in this market.

Does anybody log into Realist outside of MLS hours?

When you have a clear vision of the product you are offering then sit down and actually put together an executed marketing plan with realistic time frame and attainable goals.