I would take no closing costs with a higher rate to keep more cash in hand and put the 20% personally but if I was cash strapped and did not perceive I could value add on the home enough to get my cash back out I would consider paying PMI but only at 10-15% downpayment depending on how much the PMI was based on the downpayment amount. 

Even those with a full time job cannot afford the $700 a month rent we need to get at present.Location has proven to be a big problem, after years of not being a problem. with rising gas prices and cutbacks in working hours, the locals are now strapped for cash, job growth is nil and it's turned our cash cow into a net loss in 2012 of $9,000 (we renovated and spent $5500 in 2012 to update the property to make it more appealing, plus we had two evictions in one year, after no evictions up to that point)Taxes and insurance went up 40% over those same years and are eating up 4 months rent per year at this point.

I think my 'avatar' or client would be someone OOS or just not within proximity(I drove a property in Saint Pete for a woman in Miami last week) - who doesn't have any established networks here, market knowledge, is time strapped, & obviously just can't be active to bring the asset to life and then help manage it. 

Wholesaling is the easiest way to get into real estate if you are strapped for cash or just learning the industry.

I am just afraid that they won't be realistic with their evaulation becuase they are cash strapped and are banking on the fact that it costs significant money to get reevaluated.

Don't strap yourself for cash though on your first deal.

I think my judgement was clouded on how great these guys looked on paper with the income and credit vs what i been getting so far and not to mention I'm a little strapped right now on money.  

The next ones were the Self Directed ones, and we used KKOS Lawyers, @Mark Kohler  and @Mat Sorensen's firm, who specialize in Entities, SDIRAs, etc....

Cash for keys might be a good option here since they seem a bit cash strapped.

The owner is open to selling (not cash-strapped or anxious to sell necessarily), but with the potential sales price and current interest rates, I'm looking to see if there's some sort of Creative Financing option that would be beneficial enough for the owners to consider it.