•I plan to put 20% down on this new property, which means I’ll be left with about $80,000 in cash after the purchase.Given this scenario, I’m trying to decide whether to pay cash for the second property or continue with the 20% down strategy .

Life circumstances pushed me into stepping out into that direction right now...at possibly the top of a market...ooof.

Life circumstances pushed me into stepping out into that direction right now...at possibly the top of a market...ooof.

As we all know, the market is crazy right now with rates and all but I have been wanting to start investing.

Keep in mind if your jurisdiction prohibits discrimination based on source of income this works both ways... market rate tenants have the same right to rent your place as those with a voucher.

Those who want to do a deal may not be willing to do it right away, so stay patient and just check in with them periodically.

@Timothy Nako yeah, this is very common in Houston (and many other) markets right now. 

Generally, you'll need to find a place that doesn't appeal to the retail buyer, such as a lot of rehab, to get a good deal right now.

Feel free to PM me with what you're looking for and I'll try to point you in the right direction. 

Even better, if the contractor is able to attend/show up for the inspection by the township that would allow them to interface right on the spot and fix any small repairs.