Long term $ can range from 6's-10% range depending on all types of factors - LTV, location, unit count, debt coverage, borrower strength, full doc or lite doc programs, etc..

I know many landlords set a credit score threshold around 580-600 for Section 8 tenants since the program provides a rental guarantee.

This lender has a floor rate of 6.75% on this program (.5% discount points added to get 6.75%)Same lender can do 6.19% with 3 discount points on their other program (plus broker fee on top) if you do want a low 6% rate. 

There are alternative programs out there with reduced cost, but you are typically looking at 20% down. 

There are down payment programs for duplexes, i have not searched or tried to do a 3-4 unit property. 

If you start a JV in name but do not give your partners proper control and decision-making rights and the deal goes bad you open yourself up to serious consequences which can lead to SEC violations with extremely high fines.Lastly, you can offer the project up to investors who have no voting or control.  

Doing small projects not sure.

I would probably take the risk at $500, but $1k feels more of a ripoff like most guru programs.

I am now set to start another program in Lee’s system in the morning.

So, you say will I want to take some cash out using the 200k value but most programs will require you to wait some period of time from 3 months up to 12 months for conventional before you can use that 200k value to pull cash out.This seasoning does NOT apply to delayed financing as I mentioned in my post above.