You pay in two ways:  Upfront cost and in pre-payment penalty. 

Does it use the rental income before or after mortgage payment?

If anything I would consider paying down #3 by $75k and recast the loan to lower the payment. 

If you want to do some flips or BRRRRs then you could consider taking out a Line of Credit against the three properties so you can use the cash with interest only payments for a short term project and then pay it back and then use it again (Lines of Credit are revolving - meaning you get to keep using the money).

Avoid lenders that want to escrow your payments at closing, this increases your cash to close drastically and, in my opinion, is not the best structure even for new investors.

They operate like a credit card - when you are not using the money you don’t accumulate interest, when you are using the money you accumulate interest and need to make monthly payments.

The property is fully rented, close to University and a local hospital, which should support stable tenant demand. im willing to put 20% down payment, Im not sure about the costs that i should think of other than (management fee, vacancy, taxes, insurance , Maintainance) am i missing soething here (but Im saying 55 to 60% cost of the income).

To be specific, how is entry to the unit communicated, status of the work order, and payment processed with the contractor?

Affordability is about 1:3So yeah on the surface it looks like a big difference, but there's a lot of things not controlled for in the stats- There were a crazy amount of houses built in the years just after the war, so housing stock was easy to come by everywhere;- Homes had nowhere near the kind of features they have now - 2 car garages, dishwashers, OTC microwaves, W/D hookups, high efficiency windows, central heat & air conditioning, etc - all those doodads and niceties drive up the cost of housing;- Fewer mortgages were 30 year, so homeowners had to pay (relatively) higher monthly payments;- Rentals were almost exclusively apartments, so there was more supply for buyers;ETCI think these things tend to be more stories that make for good press but aren't really that grounded in reality overall.

This would be a flat fee payment for the use of their license for permitting SFH.