I'd try to get a 6-month lease at a below-market rate to attract a tenant.

Rising interest rates, slim margins, and unexpected costs can kill a deal fast.

Also be aware that cash out refinances typically have slightly higher rates than initial purchases or just rate and term refinances.

Hi Nate - It'd be worth asking the lender for a detailed breakdown of closing costs for this program, as well as an estimate of the interest rate you'd get with today's rates (they'll probably need to pull your credit to do this).

I’ve got some buildings with great interest rates that just won’t cash flow with less than my original 20% equity.

If so you may have some full doc options which have the best rates typically and terms.Like others have mentioned you have DSCR loans too but this only allows you to purchase non owner occupied properties (not primary residence or second home occupancy type properties).

I did a quick look and violent crime rate almost double that of Illinois as a whole. 

No pocket listings = agents aren't even calling for new leads anymore, rising interest rate has nothing to do with an agent's ability to generate leads.If you mean multifamily apartments, 5 units and up, some of those agents will know, but not many until you are over 10 units which are more listed by only commercial brokers which I agree do understand seller finance.

Utah has some of the cheapest tax and insurance rates, but their rent to price ratio is horrible and rents don't keep up with housing increases like they do here. 

Many of these were lost in tax sales, and the ones that they got re-performing underwrote loan mods at low single digit interest rates during ZIRP and could not resell them at a profit once interest rates were hiked.