Hey there everyone, My name is Chris, I'm new to the BP community, joined after searching for my next book, which just happened to be  "The Book on Investing in Real Estate with No, and Low, Money Down."

Typically there would be some red flags, ie: low credit, debt to income, no employment or even gaps in employment, previous eviction.

Without having to go to the Bank and getting Owner Financing would be a way to get a low down payment or having to get  "House Hacking" insured loan and having to live there for usually about 12 months.Showing the Owner on paper how that kind of loan how much more he could make and how spreading out their income could reduce their tax liability. 

I run over 1,000 rentals out here and lots of them are in low end neighborhoods.

Sometimes they are even allowed to sell their FROR (first right of refusal) to third parties who can afford to pay low market price for the building.

@Wiley Strahan When the inventory is low.

This could be worth it and you'd place high value on Low Price/High return.Flip side of that: Nice area, good schools, good tenant pool, typically long term renter..... buy you're looking at 1100/mo for a 120-130k house.

Historically low interest rates.

What about refinancing at that higher appraised value while rates are still low and then using your extra cash to help fund your next purchase? 

Expect a tenant turn over when you push.The problem with the community is the non enforcement of community rules and a low quality tenant base that does not have  very high social standards.