Those interest rates are never coming back.

declining) and unemployment rates (you don't want an area with high unemployment).

Westchester 2-4 unit properties listed from January - May:2022: 2332023: 177 (Lower inventory likely due to the market adjusting to 6+% interest rates)2024: 274Lastly, since you're looking to acquire something with more favorable #s, you may want to begin your search with the "ugly" deals that have been on the market longer.

Despite the Interest rate and Housing Crises, there are many people who are realizing the importance of Cash flow and Passive Income, and with current Interest rates, is it Realistic to seek a Cash Flow Positive rental investment, considering that you have bare minimum equity in the Property?

So I'm in talks with a lender to get pre-approved and already have an agent who's been extremely helpful in providing spreadsheets of contacts for any specialists I'll need during the real estate investing process.

The first thing I would do is start analyzing the rental market that you are looking in to get a feel for comparable rental rates.

Down payments are still standard for FHA or conventional (3.5% of the total cost, purchase+construction) and rates are on par with standard FHA rates. 

Unfortunately many turnkey companies will inflate the estimated rental rate to help drive sales.

If you are 1 BR competing against hotels/motels it will affect your rates. 

There are variables that can have terminal rates lower than initial rates, supply and demand as well as interest rates are a few.