To give you an idea of costs associated with obtaining a license: RE course ~ $500, state and national exam ~ $200, fee to activate license ~ $200, becoming a member of the National Association of Realtors to access contract forms ~ $500 annually.

You can search online for companies in your area that lend that way.But I'm guessing if you talked to the people around you, showed them what real estate investing can do, and offered a good enough return, you could pool money from multiple family and friend sources to make it happen.Most people aren't sitting on tens of thousands of dollars, but most people have 401ks or IRAs and if they trust you, and you are trustworthy, you can teach them how to pull loans on their retirement accounts that don't penalize them, and give you access to more money than you realize you had access to.Probably start there.

I've never head of anything that allows for access to equity with only a 10% equity position.

If the prices don't work that, consider a town like Philly which is driveable from NYC, but also accessible with solid renters in many areas.

But since there is a limit to how much money the bank has access to....their rate will be higher...and usually a shorter term.

But since there is a limit to how much money the bank has access to....their rate will be higher...and usually a shorter term....or maybe have a prepayment penalty.  

It was built as apartments at a campus bus stop but doesn't conform to the HUD's updated standards for Fair Housing Accessibility because all the doors to every bathroom are just 24" wide and cannot be made wider, so when they did their first major remodel, they sold all the units off as condos. 

I really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alertsThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

I look forward to seeing you around.There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guidesAlerts can be really helpful too: http://www.biggerpockets.com/alerts

If you have a chance to be present when the inspector is doing his job or access to him/her after I would ask talk to them, ask them all the questions you have.