I know you can get a low money down 3.5% with the FHA loan, but I'm not sure of any other traditional finance method that can get you into a property for less than that. 

After 6 months with no interest, I got a call asking if I would sell, and I said absolutely.  

Due to low inventory and trying to stir up more opportunities I recently put a few posts on Craigslist for my target market indicating I buy houses for cash.I have gotten several responses and asked them a few questions via email prior to a phone call.SO for those experienced in doing this, what is your approach to vetting people prior to making a trip to their property?

We are supply short..very low on inventory.

The area is low income, but high traffic and investors are actively converting homes into small multifamily units.  

@Jesse HargroveThe transaction itself - issuing a note (secured or unsecured) to a business - is absolutely something an IRA can do.The question would be who the borrower is.  

Do they intentionally appraise values low?

However the math is simple… run an amortization calculator see what the taxes & Mort payment are, and then know what a flat in that area rents for, With that said here is 2 typical examples of Albany propertiesNew Scotland area 2 family’s run around 220k, 6k taxes, 1k insurance payment would be around 1570 a month, typical rentals would be around 1300Washington ave areas 2 family will run around 140, 3500 in taxes, 1k insurance would be about 1000 a month, with rentals being around 1000 a month.So you pretty much can break even in the not as good areas, grab a roommate or 2 and you’re really cash flowing.But don’t forget about the big savings of the low down payment and locked in low interest rate when you plan on exiting in 2-3 years

I would hate to buy this particular property and the inside of the house be an absolute wreck inside.

Brandon's book on no or low money down investing would help a lot if you don't have much funds.