Each lender can use their own methods of qualification on commercial properties, and most look mostly at the asset (with the exception of your FICO, experience level and reserves). 

Quality of the tenants2.

My answer, yes I currently am buying a $165,000 property in Phoenix (not listed on the MLS) using one of my methods to find, using only $5,871 plus closing costs of my money.

Are their listings detailed with good quality photos?

If you hate the process of placing tenants, it may be worth it to hire a property manager to handle tenant placement for you.I think finding a new tenant is a better long term strategy if you're confident you can find a higher quality tenant that will cause you fewer headaches.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

I want this to be acceptable long term if I keep this method of financing. 

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.

@Fulati PaerhatiRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If you are open to non-traditional methods of financing, you could use a debt service loan to bypass that requirement.