Also be open to knowing that you are acquiring a series of problems.You're in the solution business. 

We are in a similar boat, however I have not yet found a solution for less than $5K even for above the ground.

It’s a cleaner, more reliable solution, and while the higher subscription cost can feel like a drawback, it’ll save you a lot of headaches and time in the long run.

The fear of unknown and the bad potentials, but then sh_t happens and ya remember that we got a choice to lay down and be done in by it or roll-up the sleeves and get to work and be a solution maker. 

Private lenders or even creating a small syndicate with a group of investors might also be worth exploring, especially since you can point to your uncle’s track record and your own experience managing rentals as a selling point.If timing is tight, you could look into a bridge loan to secure the property while figuring out a more permanent solution.

Now that you have the correct terminology, you can search for lots of potential solutions. 

@Gary Abrams A cloud based solution would work really well in your scenario of having other family logging in and helping with management. 

Ideological bromides are not solutions, Jim.

There's a few different ways to focus on a lower rate such as with house hacking and making the investment your primary residence, requesting a significant closing credit from the sellers for standard rate buy-downs (which I've had great success with recently), or utilizing lenders who offer short term rate lowering solutions such as 2-1 rate buy downs (again, ideally paid for by the sellers).

We are a direct lender and provide funding solutions for private money investors and conventional home loans.