My goal is to create financial security for retirement.

This is primarily what makes their work product substantially lacking in correct English grammar, legal protections, timely professionalism and many other ways any Securities Attorney will point out to investors.

.- I will keep their security deposit for funds owed.- I will do my best to garnish future wages until their debt to me is paid in full.This has worked 100% time so far.  

Depending on your debt to income, you might have to sell or have an executed lease to secure financing to buy the second home.

Possible (but I doubt easy) if seller takes a 2nd / subordinate position to the bank or is secured by other property you own.

It is the interest rates at which banks lend to each other and is short for Secured Overnight Financing Rate. 

2.Are there strategies to reduce the required down payment or secure better mortgage terms?

Using a HELOC or home equity loan on your personal home could be a good option, especially if you can secure a low interest rate and manageable terms.

To combat this: market the property well, be transparent, secure a great flood insurance rate so a buyer can know the cost and be able to transfer the policy.5) no flood zone AE does nothing to rental rates6) if the insurance rate seems high then get a flood cert and maybe it will decrease.

I’d also prioritize getting pre-approved, securing financing, and starting small to build experience and momentum.Good luck!