Brandon Turner wrote a book for BP called Investing with Low or No Money Down - start with that.

Focusing solely on numbers often leads to the purchase of low-quality properties.

Nor would I pay retail for a property with that low proforma return even though I like PR.  

I will follow the advice here to keep high deductibles and low premium and save the premium for any contingencies later.

These markets often have strong population and job growth and strong rental demand.But the reality is that even in more affordable markets like Columbus, you'll need about $50k-60k household income just to qualify for a conventional investment property loan (this assumes good credit and reasonable debt).

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

Quote from @Arshiya Taami: Quote from @Brandon Croucier: You have 600,000 problems.Bridge lenders (HML) Want low LTV (65% Max Typically). 

You can use a low down payment to get into a house and have renters help with your mortgage.

The tenant pays a monthly premium and keeps an active bank account and credit card on file.

So I had a windfall and can sort of "semi retire" with a part time low stress job.