Also in the price range you are considering you are running a high risk of having a low quality experience.

Hi @Sarah KhanCapital View area is up & coming and continues to experience growth with low median days to contract.  

These can be "conforming loans" like FHA/VA for low down payment.If you don't live in it then it's similar but it's considered a commercial loan and you will likely have to come up with more down payment. 20%-25%

We were thinking of moving to Vegas since Nevada does not have income tax or Arizona which has very low income tax.

I believe that you can put a fourplex that you will live in into an FHA loan, which will keep your interest rate quite low and your downpayment low too.

I've been listening to the podcasts and started reading "Investing in Real Estate with No (and Low) Money Down" and looking forward to making my first move.

These guys will cash you out after 6 months seasoning as well, meaning if you get a solid discount you could get all your money back, and possibly more.Private Lender- If you have a private lender that you could offer a long term loan, maybe 2 years or so, you will probably have to pay them a higher interest rate, but it's better then not picking up rentals for another 2 years.Lastly, bring on an partner who has solid income history.  

Finding someone who can work for $150/sf may be possible, but that will surely come with headaches and additional costs, that would also be a project finished with very low end Home Depot type finishes.  

That being said, depending on location/seasonality I like to assume that a hot tub can increase year end gross revenue by ~5-15%.

The analysis has a low offer on the listed prices to make the purchase profitable.