I can only repeat what the others have said here.

@Arthur Banks sorry for the confusion, I'm actually not an investor, I was just repeating what I had seen mentioned here on a previous thread.

Your question is really to vague to give an accurate answer.Not only will your end goals affect this amount, but also your location.Do you want to wholesale, buy and hold, rehab, purchase notes, do auctions?

We all get along really well and have all stated we want to do this for the right reasons and do it properly without affecting our family relationship.What We HaveMy Partner's parents own a 35 acre lot in Quebec and they are trying to figure out how to get that in our names so we can try start working on that as one of our first investments.

As others mentioned you can also look at the average day on market but for the sake of answering your question, you would have to pull up the number of listings in a neighborhood and divide it by the average number of sales in the last few months.They both will lead you to the same conclusions as to which neighborhoods are hot except that neither of them takes seasonality into account (slower winter months will affect your calculations and won't reflect what's going to happen this spring).

By the way, units in foreclosure are considered non owner occupied ( think financing for a new buyer) BUT I dont think they affect renting.

I thought (because I have successfully flipped several homes and I am a licensed contractor) that I would be safe in investing my money, but I was repeatedly lied to and got sold a bunch of nothing.

If you would like to repeat something anyone here has said in public, adapting it to a conversation as a comment, that's one thing, using common knowledge to express your position or point of view, to some extent.

I am going to call other banks as this was only the first one I reached out to but was wondering if this was the norm or if it was somehow based on my financials.On the other hand, my strategy is to buy my first property, live in it while renting the other units out and do that again within ~5 years and repeat again.

2 - Going FHA with 3.5% down and essentially repeating scenario 2 but having a permanent cash outflow for PMI.