Legitimate lenders may charge a small application fee (around $250) to verify you’re serious, but if someone’s asking for thousands with no real intention of closing, that’s a huge red flag.On a more positive note, there are creative financing approaches out there.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

A smaller valuation would mean less out of pocket to buy out your siblings and lower taxes, but it would also mean the lot rent is a much higher % of valuation.I can almost guarantee you can find properties in Grand Rapids that cashflow because I've found them all over the Midwest. 

You will also have to factor in the closing cost for the new loan.

Upon closing my single family construction my home had about 25% in equity on day one(in 2018 in Tennessee). 

I would closely monitor your competitions pricing to see what is working for them.Vrbo has built in tools to monitor when people are searching for specific dates.

Are there any options for lower down payment loans in general or even for college students?

Congratulations on your impressive success since 2021—that's quite an achievement to have closed over 100 transactions in such a short time.

Will likely take longer to close than a traditional hard money (they have to order an appraisal, satisfy lender conditions etc..).

I have close to 1,300 units now of days.