My buddies in middle-America were capitalizing heavily off of both the FHA and the incredibly low interest rates circa 2011 (thanks artificially depressing the dollar, Fed!). They started out with a handsome amount of capital and borrowed against their 401(k) [I don't recommend this] to speculate on the rise of land [I also don't recommend this], threw down 20% to avoid PMI [I do recommend this, if you can afford it] and started renting out properties. They essentially speculated on gentrification, got lucky, and pay a management company to maintain their properties so they don't even deal with their tenants. Their bi-monthly involvement is limited to reconciling their accounts for 20 minutes and a five minute phone-call to resolve any potential outstanding issues with the management company.