Here it would be 25% down ($275k)A balance of $825k at 7% (or higher) $5,490/mo, figure $250/mo insurance, $500/mo property taxes $6,250/mo. 

I would try to get a 5 or 6 month lease at cheap after a washer dryer add then renew in June for a higher amount or register it then and optimize the rent. 

I've been trying to determine if the 1% down payment would hurt me in a BRRR (higher monthly mortgage rate and theoretically less to pull out in refinance).

Cleveland will have a lower cost of entry and higher cashflow, Columbus a higher cost of entry but probably a good mix of cash flow and appreciation.

The whole scheme was buy a foreclosure, "sell" it back to someone that can't qualify for traditional financing with seller financing at a higher rate, once note is "performing" you can sell the note and make a lot of money. 

Your rates will be higher wih no experience3.

Ask for higher limits so your available credit ratio is higher.

Or They charge much higher fees per transaction.The one Im with for $40 a month, is 100% commission structure.

I don’t know of any other opportunity where you can net $10-20K (in some cases even higher) per month on a single residential property.There’s usually plenty of room to bring investors in and everyone involved still win, even in todays higher interest rate environment.Financially, residential assisted living is usually a more cost effective option for families than alternatives.

I don't see the need in financing at 7% or higher if you don't have too.