The problem I always encounter is, you own the project for life.  6 years later they will call and say, "you remember that doorknob you installed?". 

Your rate is 7.3% and will remain through the life of the loan as long as it's a fixed rate.

My wife wouldn't read a real estate or business book if her life depended on it.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

I have lived in Arkansas my whole life, lived in all parts of the state, and have been in real estate for the last 8 years here. 

I also agree it's better to use real life examples rather than hypotheticals.

People love to be useful to others and asking for advice tends to give them an ego boost.   

Anyway, I have a recurring character in my life...

My girlfriend and I have been looking at properties over the last couple of months due to life situations changing and having a decent chunk of change saved for a down payment.

A conventional loan will have PMI below 20% generally and FHA you pay a "PMI" for the life of the loan.