Just having enough money in the budget incase something happens.

Some places you may pay a lot more, so also consider your budget.

@Frances N.Your lender will mot close nor would I as a buyer without not only the hoa rules but also and more importantly the budget.

An HOA disclosure is to be provided to you with your offer or before and you would be provided the HOA documents and budget prior to closing. 

You won't find much in Alpharetta for less than 300k let alone 400k, but there are nearby markets worth exploring that meet your budget, depending on your pre-qualification. 

"Quite a bit of work" can mean considerable renovation budgets, plus potentially large, expensive, unexpected items that come up in the construction process.Half of a duplex is also an odd situation, but that may be more Canadian than US real estate.It's really a matter of risk vs potential reward.

Find a market you like with a good future (strong schools, job market, low crime).Learn how to analyze property for good cash flow.Get your finances in order with no debt, a good budget, a personal emergency fund, enough money for the down payment, and a reserve in case anything goes wrong with the rental in the first 6-12 months.Buy.Immediately start educating yourself on how to manage problems (application screening, late rent, unauthorized pets/people, etc.) and saving for the next investment.Here's a guide that describes what good cash flow looks like and how to analyze a property.https://www.biggerpockets.com/...

Hey everyone, I working with a small budget right to get leads until I save enough for a list.

You can keep your rehab budget accordingly so that it shows pretty and rentable for investors.

Now they expect it all to be magically done for them, meanwhile all the financial planning articles out there harp on figuring out your expenses/budget as step #1!!