Pinch your pennies and save up for a down payment so you can house hack and open up a plethora of other options. 

I feel safer having the passive income that a 30 year fix can give me if the property gets into a pinch.  

I'd ask for manager's name and then call the store/restaurant and talk to manager on duty.I would not rent to them unless they can each squeak out the rent individually in a pinch if the room-mate situation doesn't work out.

I have access about 10% of the deal in cash but would need to do the other 90% with a (hopefully traditional) mortgage + a healthy HELOC that would still have reserves if I get into a pinch. 

Another option is to disclose other assets you could borrow against in a pinch to pay him off (ex. 401k)

I'd take a credit card payment in a pinch, but not regularly.

Could be a concern that when rates do rise you will get pinched by the increased payment, but just a guess?

It's about knowing how to leverage and utilizing those skills to purchase performing assets.Here in New York, if I simply pinch the penny I'll maybe gain an extra $6 or $7k a year. 

Forget penny pinching.

If, you have a strong DCR, the short term pinch of cashflow shouldnt put you at too much risk.