Will depend on several factors like the type of property, type of tenants, your risk tolerance, other assets you own, your estate planning, laws where the property is located, etc.

I’ve been in a similar position where I wanted to scale but equity was a limiting factor.

(Granted, I am not factoring in various fees that may be saved by financing at acquisition).

However, the suitability of buying and renting out a single-family home in Richmond can depend on various factors, such as market trends, rental demand, and property values (similar case with all markets, really.)Chatting with a local agent in the area can provide very helpful insights into the market, data, and specific neighborhoods.

That depends on a lot of personal factors such as your finances.

But that is calculated after expenses and depreciation is factored in. 

A purchase of $209k, $15k rehab, and ARV of $240k doesn't get you any thing back after you factor in all of the closing costs to purchase and to refinance.

There are more factors than just the community (#beds, level of theming, location to the amenities, style of home (single family, townhome, condo) and others) But I would strongly advise to stay within some of the same communities you mentioned like Storey Lake, Windsor Hills, Championsgate and a few others if cash flow is your goal.

Meanwhile, the sellers who are most likely to offer creative financing are normally the owners of  real estate that have issues.....condition.....low barrier/over supply market......or perhaps pricing issue, and one of these factors is why its not marketable in a arms length transaction and why creative financing would be accepted.

Financing is important but your realtor will absolutely be the determining factor whether you purchase correctly or not.