The terms remain the same, we still pay the monthly mortgage payment.

These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.  

However I am trying to wrap my head around the mortgage payment of $1700 per month???

We've done demos with all of the big name PMS options and are finding big gaps with all of them, mostly when it comes to payment processing.

Quote from @Jack Townsend: I heard David Greene mention a loan product that only requires a 10% down payment on the purchase price and 10% of the rehab budget.

@Andrew Lanoie I apologize for my remark.But our investment is 40 times the monthly payment.

I forget; it was payment processing related) that required me to have a website for the business.

you may have to save up until you have enough money to do so - down payment, closing costs, reserves, etc.House Hacking: What Is It, How to Start, and Strategies for Successit's a more powerful way to get started. 

I think it was for down payment and closing costs.

Based on the CU's loan calculator, we can finance that over 60 months for a $320 payment.