My initial challenge is figuring out how to get funding, as I don't really have a bit amount of money to put down just yet.

So far with the properties that have looked promising we have utilized the calculated NOI / Cap rate to determine the value and every one we have done has come up way lower than the asking price and in one instance came up less that what the current owner paid for the place initially.

Hi All,I have been renting my 4 bed 2 bath SFH for over two years and have had many troubles with the tenant(Initiated an eviction process ).

Some of our initial baseline, no-go, criteria when we first listed were: 600+ credit score, no evictions, no bankruptcy, and income 3x rent... however, after finding that very few interested parties were eligible to even "enter a review phase" of landlord verifications etc, we loosened up a bit and went to an objective scoring model that I tweaked from a few ideas obtained after speaking to both rental professionals in my local area and some on this forum. 

Are you paying any points for the initial loan as well because that will add to the cost?

Over $500,000 in gains on a $200,000 initial investment.

When we initially bought the homes we were able to lease for $2800-$3200/ month. 

If the investor wants to pay off the property quickly, then this might not make sense but if an investor is looking for more of a cash return initially, this can makes sense.

I've gone through the process of shopping out a loan for the property and it was decided that I'd go with a loan originator who initially told me the interest rate would be anywhere from 5.5-6%.

However, some investors are comfortable with this approach, especially if they prefer to limit their initial capital and plan to refinance a few years after purchase—particularly as discussions about the Federal Reserve lowering interest rates into 2025 continue.Ultimately, successful investing hinges on selecting a growing market, a desirable neighborhood, and assembling a strong support team.