I mean, conceptually it's the same...but so many differences that it would take too long to describe. 

We love fresh introductions.. how would you describe your perfect investment property?

Tenants have dog allergies and chronic asthma; the persistent smell and the dog hair found in multiple areas so far are harmful to our health and have, can, and will exacerbate health conditions of tenants.We believe the issues described above present a materially dangerous or hazardous condition to the health and safety of our household.

Their communication can be described at best as mechanical.

I've never heard money/profit described as cute, so it's not important.The most important thing you mentioned, was the rent potential and ARV. 

What you are describing is a "dual agent" role, where the agent represents both buyer and seller.

The 3 issues you described are all fairly large red flags, especially for someone's first property.

The 2-3% points in extra cost are worth it if you plan on using as I described above because the use would be for a few  months at most and due to that short term use you can survive a rate adjustment up.But, if you have no plan to payoff the debt like when using for a down payment on a long term hold why pay the extra cost for flexibility and have the additional risk of the adjustable rate with the amortization looming when you can get a fixed rate second mortgage. 

My experience was just as they described.

From what you’ve described, it sounds like you’re more focused on long-term appreciation and future benefits rather than immediate cash flow.