Rates are usually in the high 8s or low 9s, and you are likely going to pay 3-4 points for these loans. 

High demand and still relatively low entry costs. 

I was initially drawn in by the low fee, which has since fluctuated, but may still be the lowest out there.

Does not appear to be low IQ person to me .

Most banks I work with require anyone with over 20% ownership to guarantee the debt but have seen as low as 10%.

Looking at this mathematically, if you assume a 50% non-renewal rate (industry standard) and use the low end of the range of $5,000 per non-renewal, there is a loss of $50,000 per year on a 20 unit property.

High credit scores and low DTI are often required…and these take much longer than I first thought…Navy might take 45 days to get through the gauntlet.  

Additionally, since my parents are nearing the retirement age, I'd like to prioritize low-debt, high-cashflow deals.

These sellers paid much less than what the going rate it today, likely have no mortgage or low interest rate mortgage and do not need to push rents to market value to cash flow.They get solid returns at their current rental values, have minimal headache with current tenants and they don't need to do major repairs to get their properties sold for a solid value. 

It was high rent, low entry point area but within 6 months I dealt with an eviction and electrical issues.