A higher down payment also demonstrates the buyer’s commitment.Flexibility: You can adjust the down payment based on the buyer's credit history, employment stability, and ability to pay.2.

He said he noticed a few other things and this management company person has a history of not disclosing damage from tenant that exceeds normal wear and tear until I get the key back and the deposit was returned.

We still ran credit, to check for evictions and to see address history. 

It's for me and my kids really, but it has a history of being productive on Airbnb and isn't a huge spend vs. return.

Only nearby city that rivals it is Amarillo (2.5hr drive north) and it does not have anywhere near the education infrastructure or $$$ inflow Lubbock has (at least not yet) with Texas Tech and associated schools, SPCC, LCU.

Purchase price: $205,000 Cash invested: $27,112 Bought for $205,000 in the Maine-Endwell school districtMonthly rent (pro forma with 3 month stabilization) $4,800Taxes: $9,238Insurance: $2,642Gas/electric: $0 Water/sewer: $2,451Total expenses: $14,280 I used a conventional 10% down.

No room, then I question how serious they are about training...and you need training....real estate school teaches you laws, contracts, and concepts. 

That said, it can be done and done successfully if you plan in advance, build your team (contractors, subs, back ups, lenders, credit with suppliers, escrow/title, real estate attorney, mentor, etc.) get educated on finding (marketing) for deals, rehab costs, locations, market data (like crime rates, school ratings, population growth, job growth, etc), specific market insights like what is most popular and sells for the most in your area, etc

My current situation - I have a FICO of ~630 (no late payments or derogatory marks, just credit card debt from school). 

You're goin' old school.