I can't speak for your area as I mainly invest in the Indy area, but I know that property is quite higher in California and you may want to look out of state for properties in the 10s of thousands instead of the 100s of thousands first.

Their secret sauce seems to be that they have a database of all of the banks and track thousands of applications per month.

There are good wholesalers that sends thousands of direct mail monthly but I don't think all Realtor, Real Estate Agent, or Buy and hold investor do.

If they aren’t running a respectable business, you’ll be the one who pays for it – literally.

Resale of the home will be extremely difficult and reduce the property value by tens of thousands. 

After doing this for 10 years and managing thousands of tenants, I've never handled an eviction myself.

You could be looking at less than a thousand but it could be 5 figures depending on the severity.

If not, you might have to drop a few thousand at IKEA, but if you could keep it rented to tourists, it's quite possible you make more than the mortgage and help to cover the furnishings expense.

:)If you don't have money you're not a buyer, any idea of what the engineering and inspection reports would cost.......guessing 10 to 20 thousand, title examination and policy aren't chump change, and not being closer on the value means an appraisal, maybe 5,7,10K don't know your area. 

With around a thousand doors under management from Colorado Springs to Denver and one of the largest owners of single family assets in the country as one of our clients, we are also one of if not the largest buyer along the Front Range.