However, if you know and have a relationship with the person/team that will be doing the rehab for you in your absence and trust they have your vision in mind then you are in a better place to start. 

they probably have a bunch of 3% nonconforming loans on their balance sheet so 5.5% is not bad, totally reliable payments, plus in a legal battle they'd likely find the power of attorney didn't extend to the ridiculous term and that there was no breach of any enforceable agreement.   

Love the idea of helping out a first time buyer, may run into trouble if she's not the primary resident, check w/ lender but I don't think that'll fly w/o more of a down payment.

I don’t believe a tenant can stay forever, and I can cover the extra payments and lawyer fees for up to two years for the tenant who will be harder to remove.

The relationship between a broker and real estate investors is built on trust, transparency, and a mutual understanding of goals, which ultimately leads to successful transactions and long-term partnerships.Firstly, a competent private money broker begins by understanding the unique needs and objectives of the real estate investor.

You make all of the BAH payments back tax free for you.2.  

You will need down payment money, You will need cash reserves Money, you'll need closing costs money, and you will need to get a bank loan.

I been looking to buy my first rental property I already got Pre-approval loan, down payment and criteria for the house.

If rates do go down significantly, it will be more of a sign of economic instability.I recommend continuing to save monies until you come up with enough for a decent down payment.

Net Income: 100k~ depending on overtime workedHere is a breakdown of the potential property we would be looking at buying as a long term investment. 3 Bedroom, 1 Bath, 1000sqft, attach single car garage, fully fenced property, needs no work and would be in a state of immediate ready to rent.Purchase Price: $289,90020% Down payment: $57,980Mortgage Rate: 4.5% Amortization: 25 YearsProperty Tax: $3185 annuallyBi-weekly Mortgage Payment: $592Rental Details:Monthly Rent: $2600Mortgage: -$1184/monthProperty Manager: -$260/monthLandlord Insurance: -$105/monthProperty Tax: -$265/month15% Put Away: -$390Leftover: $396Does something like this make sense to jump on?