Many don't qualify for low down payment/FHA for a variety of reasons, especially the ones sub 200K. 

It would definitely help build trust and rapport with your tenant, but if it's not defined in the lease agreement you aren't on the hook for that. 

I’m not exactly sure how much you can trust much more than the list price.

This is when you buy a primary residence (1 to 4 units, the more the better) which you can usually get for a very low down payment and get the best interest rates on and then rent out other units and/or bedrooms within your unit to pay for the mortgage and other expenses.

I would also consider scaling back major expenses like car payments, lavish shopping, etc.

A conventional loan under an LLC provides liability protection and easier rental management but requires a higher down payment (20-25%) and stricter lending terms, which can reduce cash-on-cash returns.

BRRR house hacking using 5% down loan and applying down payment to renovations forcing appreciation is tough to beat and allows you to move quickly in NJ. 

Inspection Costs - $400 Lender Fees - $1,000 Closing Costs - $2,000 Mortgage Payments - $2,500 Property Taxes - $600 Utilities - $1,000 Insurance - $200 Commissions - $4,000 Selling Closing Costs - $4,000 Home Warranty - $500 Termite Letter - $100 MLS Fees - $100 

I was prepaid 1st 6 months of interest. 8 months have passed and no additional payments have been received.

Declining Interest Rates: When market interest rates drop, refinancing can reduce monthly payments, thus improving cash flow and enhancing the DSCR.3.