It was a bridge loan, 8.25% interest only payments for 12 months, 2 points.

@Salome Ditmars In addition to what has already been shared on this thread, trusting the sponsor will be paramount to you sleeping at night, and I can't stress that enough.

Think of it as the rough sketch that helps you figure out where you want to swim: Omaha’s stable single-family rentals with decent cash flow and strong appreciation potential, the sizzling up-and-coming pockets around San Antonio where off-market deals still lurk if you’re willing to roll up your sleeves, or those tight-knit Chicago neighborhoods where a trusted investor-friendly agent can point you to contractors who won’t ghost you mid-reno.

Looks like Paramount is under Federal investigation for having failed to make agreed payments. 

I could put a down payment for a conventional (20-25%) 550k duplex, but I feel it could hurt my chances of buying as many duplexes in a 5 year period (for example) if I go conventional VS an FHA at 3.5%. 

You could offset your mortgage payment on a bigger house with the cash flow from the rental. 

@Charles EvansFrom my experience, having rental income of $1,400 to offset a $2,600 mortgage, leaving you with a $1,200 payment, is a manageable setup with an income-to-mortgage ratio of 28.5%.

When do you make owner payments?

I have a potential wholesale deal out in Colorado Springs and it'll be my first one, so I'm looking to pick someone's brain who has done a wholesale deal in Colorado before, what title company you've used and trust, and any potential buyers! 

You need a GC you trust and a GC that cares and a GC that wants to build a business relationship with you and not be a one off.