As a few mentioned, depending on your situation you might have to do a DSCR Cashout (vice conventional investment), and with hard money loans often there is a pre-payment penalty.

Rental property prices are low in this area, leads me to believe there are problems with the rent collected vs expenses.

This means sizeable monthly payments, but if utilizing with Value Add you can pay off the loan without a pre payment penalty at any time.Hope this helps!

We decided to market it as a 4 bed/1 bath with an office.Listing Price - $199,900Property Taxes - $2,230.13AssumptionsPurchase Price $230,000In this case I had seen similar properties selling for $225K - $250K so I felt the property was listed low to drive up interest.

Assuming you have access to MLS (Multiple Listing Service, a place for agents to list deals).1) Look for deals that look like investor-type of deals (e.g. low purchase price, ugly houses, or sometimes MLS will even say what type of financing it is)2) If the buyer's info is there, voila.  3) Otherwise, contact the realtor to look for leads (that will be more of a uphill battle, but you never know...)

If prices in Georgetown come down low enough, 100% I'm scheduling a trip and were getting on-the-buy.

You can do less than 20% down (as low as 3.5-5%) if you intend to occupy the home for at least a year.2) There will be an HOA (homeowners association) which restricts rentals, so be sure to read the CC&Rs (governing documents) to ensure that your rental strategy is allowed, even if you intend to live there at first, eventually you'll be transitioning it to an investment property, so this will be important.

Payout looks pretty low to me.   

Utilized a low down payment loan, maxed seller credit, tax proration and closed on the 1st of the month to maximize my cash and acquire this property What was the outcome?

•If jobless claims are low (below 210,000): The labor market remains strong, keeping the Fed in no rush to cut rates.