I recently paid off 60% of my car (I didn't want to pay off the whole thing because I felt it would harm my credit.) leaving me with a principal amount of around 4k.

I will need to get the exact numbers from the lender tomorrow on what the new payment will be on the initial two properties and the new one to do the math....Easy enough to calculate based on the numbers you gave - Principal balance of $214k, 25-year am at 4.9% is a P&I payment of $1,238.59. 

While listening to podcast #283 (which you should listen to in case you haven't), Paul mentions that when he wants to buy a house, he sends the homeowner a three-option letter of intent with the following options: Cash offer (percent of what property is worth minus repairs, typically 50% of after repair value, this is the lowest value offer of the three that are given)Owner financing (interest only, this is a higher offer)Owner financing (principal only, no interest, this is the highest offer)Option 1 is easy to understand, the ones I don't know how to apply are 2 and 3.

If yes you can refinance and get 30 year fix but  you will pay less towards principal and more towards interest.

If I'm making 1K positive cash flow after rehab, in 5 years that amounts to 60K, but if you pay it towards the principal in another 5 years your mortgage is gone and your cash flow is more than doubled.

I am looking to meet/connect with Sponsors, Operators, Principals, Etc. of MultiFam, Resort, & other large RE projects.Any advice on finding here on BP and/or elsewhere is greatly appreciated!

Try to meet or talk with the principal(s). 

I'm going to have the outside vinyl sided which will be the only cash I have left in the deal.Actual Monthly Expenses:Mortgage Principal & Interest: $380Monthly Taxes: $68.92Monthly Insurance: $63.75Cap-Ex: $95Vacancy/Credit Loss: $47.50Property Management: $50Total Expense including estimate for vacancy and cap-ex: $715.17Rented @ $950 per monthExpected Cash Flow: $234.83Living Room:Master Bed/Bath:Under the cardboard box in the pictures were about a hundred cigarette burns in the carpet...Between the 5 people and 3 dogs living here when I bought it there wasn't a blade of grass in the back yard:Still haven't done the vinyl but it sod does wonders and it only took 1 pallet. 

Purchase $60KRehab $15KARV $105KRent $1300Expected PITI (Principal Interest Taxes Insurance) after cash out: $875CapEx/Vacancy/Maintenance: $160Cash Flow: $265My CapEx/Vacancy/Maint may be a little low but with all the work I did I’m not expecting much maintenance and the CapEx items are all in good shape and should have years left.  

The property must be your primary residenceSingle Family, condo, or 2-4 Unit3% Minimum Down PaymentBelow is a comparison of Conventional vs FHA.Both are assuming no point loans.Conventional LoanLoan Amount $450,000Rate 4.5%Term 30 Year FixedPayment $2,280.08 – Principal & InterestPMI $172.50Total Payment $2,452.58FHA LoanLoan Amount $457,875Rate 4.125%Term 30 Year FixedPayment $2,219.09 – Principal & InterestPMI $316.08Total Payment $2,535.17 You may want to look into this loan product.