They would provide you with the terms befitting your situation, you would agree to the terms, pay for down payment, closing costs, appraisal.

How much down payment should I prepare?

Knowing interest rates are crazy right now and cash flow would be minimal anywhere without an extremely large down payment, I have thought about and am fortunate enough to think about purchasing an investment property 100% cash.

An example would be those who can't afford a mortgage of less than their cost of rent simply because they don't have a down payment and the score to back it, yet provide accurate and detailed rent payments over X amount of years.

Can you try to utilize a 40yr term or I/O period to lower the payments a few bucks?

The key it putting together a trusted team.

You'll need a down payment which is negotiable between you and the seller. 

Hi John, lender here - it really will just depend on your debt to income ratio which is the percentage of your gross monthly income that goes towards paying your current debt payments.

If you die and they inherit it from your estate, a trust, or most forms of an LLC they get a free stepped up basis. 

To ensure you are making $ each month, PP x (IR+RF)= Interest and Principal Payments.