If someone is buying a $600k home, putting 10% down...their monthly payment would NOT be $3,000 per month.  

If this is financing for a stabilized property rate carries more importance but rate combined with origination fees, pre-payment penalty and term in which you intend on keeping the loan in place are all considerations which together should help in deciding the best financing option.

At $200k I'm guessing you would still cashflow even with such a small down payment. 

A preforeclosure period of 120 days is required before a lender can enter foreclosure for lack of payment. 

The class instructor did show us various creative financing methods, but most of the time was spent trying to hype people up to become better people and help other people out of a foreclosure situation.

Quote from @Tracey Watler: Hello BP, I was looking for a lender in Puerto Rico, I’ve learned that even though Puerto Rico has almost all of the products and methods of the US not all US banks lend in PR. 

Predatory lease option investors know that and do that by design, they will keep the 5k-10k option payment after 12 months and lease/option it to the next family who is chasing after the American dream.

If you want to buy and hold, you will need at least $35K-$40K for the down payment.

Brickell has that same kind of potential, but with even higher rent ceilings thanks to its location.A couple of things to keep in mind as you dive in:Financing: As a first-time buyer, you might qualify for low down payment programs.

Mortgage payment of $870 PITI with 20% down at a 7.25% investor rate.