But right now, I wonder if a total newbie in this should really be trying to get a small loan (50k) to purchase two house around 60k each?

I purchased a duplex at a shore town in NJ.

Apartment buildings can be a great investment but you have to buy in an area that is appreciating and purchase a building that has good returns, hi-occupancy, and little overhead. 

The security deposit can't be too much so I would advice give it back to avoid a larger long drawn out issue. 

Purchase Discount: It's crucial to buy properties at a deep discount if you plan to BRRRR and get cash back.

The question is, how much leverage is the investor using to purchase the property and at what interest rate.

My plan is to hold onto it as a rental property, targeting Section 8 tenants, as the rental income is quite attractive at nearly $1,500 per month.Here's the challenge: The property's purchase price and labor is below $40,000, and I'm uncertain about my ability to secure a traditional mortgage for a property at this price point.

Also decent sized deals for larger fees!

Especially under the TPC, the disclosure should be in writing with assignor, assignee and the seller (titled owner) acknowledging the assignee intends to assign the contract and not consummate a purchase.

@Drew Sygit I already possess the necessary knowledge and am in the process of due diligence to purchase a home.