Buying an Investment Property in Atlanta Area.?


I am interested in buying an investment property in the Atlanta area -Possibly Gwinett or Cobb County. I currently own my own home now and have been living there for 2yrs Oct 31st.

What I’m interested in doing is buying an investment property for rental. I am looking to get a property about $ 50,00 -$ 70,000.Perhaps Hud housing or fixer upper or foreclosure home. I currently have a potential leasee in mind now, who is willing to rent from me. My credit is in good standing. The problem is, I do not know how to go about the process. Do I have to use my own small savings for the investment? Are there grants or small investment low interest rates loans? Would this interfere with my current loan (Wells Fargo) that I have for my house? Is this too risky?

How do I go about this process? Thanks in advance for your help!

Have a great day!

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