I could be wrong, but I believe that if I just stick to what I can do and continue putting in my effort to connect with others with offers to help them (for free), help those even newer than I am to this website, be open to opportunities that come my way without expectations of their size, then I will eventually  succeed.I think that the one determining factor in me that makes me sure I will succeed in the end is my drive to keep at this until I have achieved success, and I plan to never give up as long as I am alive.

But my target areas are probably a little less polished than yours, and I'm looking for areas with room (and the expectation) to improve in a couple of years. 

The numbers you come up should expect for replacement of some/all of the plumbing.

However, you need to consider that over time taxes and insurance do go up, so if the margins are very thin in its present state with limited expected rental growth it might not be a viable deal. 

I would expect 70-75% LTV.

So what area would I have to expected them to come in?

I have seen wayyyy to many California investors throw their money here and expect these amazing returns.

Right, I definitely expect to take full advantage of that VA loan. 

By cheaper i mean that it would be easier for me to get into the investment. i am living abroad now on a lower salary, but will be making a position change soon and start saving up a fund for a return to USA and to start investing. plus, by that time, I will have a track record on the san jose property that i guess i can use to get into other properties. 

I have a house that I'm about to sell on contract for 82k to a couple that has leased for over 2 years and put down a total of $7,900 (total price was set at $89,900).  The note is for 15 years @ 6.1%, and the house i...