Prices are high and  cap rates are at historically low levels.  

We begun our search for multifamily and even got preapproved for a conventional mortgage loan in the 500s with 20% down, but as we continue to evaluate many of these properties and their cash flow, it seems like a high cost of entry, ownership with a low return/cash flow.

I like and used these guys here in the past get high marks: www.ConstantContact.comwww.top10emailmarketingservices.comAnyways, another low-cost way to do any of that is to look into and google ideas using cPanel and wHM hosting.

Jestin, that seems like a very low NOI even at 400k.

Let's assume capex is low since you did rehab it prior...300k house for 2k rental isn't that great unless you're banking on appreciation, but at 300k it doesn't sound like it's in a market like that.

And yet, I know the furnace is going to need replacing in the next 5 years ... pretty much do a happy dance every year when we fire up the heat to test it.

If you found a four-plex that needed some work/rents were low/run by a mom & pop operation ect....you may be able to get seller financing from the owner. 

What is the best place or way to buy a low cost rental with little to no money down? 

@Eli M.There are quite a few non-profits in Philadelphia that assist low-income (or other specific classes) population with first moth rent + downpayment.

.- For low appreciation neighborhoods, we like Seller Financing.