So we are in the down cycle.

There are a good amount of investors on here who could take down (including myself) a portfolio of rentals 

Breaking it down by room can make the process a lot easier.There are also some great pre-made checklists in Airbnb host groups and forums if you need a starting point.

In a worst case scenario like the house burns down or a tenant sues you and you're not insured properly, that's a big risk. 

I believe I put $58k down at closing.

3.5% down conventional What was the outcome?

You will likely need to save up for your next down payment.

That shows real estate can be possible for anyone; in my opinion, I know everyone has unique and challenging situations, but in principle, anyone who can follow some basic budget fundamentals can save up enough for a down payment.Grateful BiggerPockets continues to bring more people into the industry!

Prices are down everywhere.

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.