There's a post right above mine from a lender... there's always a lender offering $$$ even when people can't afford it. 

I'm sure I could go to some midwest markets or even some more depressed markets in my region and get better pricing, but that's out of my wheelhouse at this point in my life as I have no desire to learn new markets when I'm closer to the end than the beginning. .Sure, obvious but over looked.

Quote from @Paul Lucenti: I rent out to HCV tenants so I use affordablehousing.com, go to housing fairs, Facebook marketplace and Zillow. most of my success happens from affordable housing, some from Facebook marketplace.

I’ve never sold a note so I’m not sure how big of a discount a note buyer would demand. 1.

Now I’m looking into the Detroit and Ohio areas (Toledo, Cincinnati, Cleveland, Columbus) since they seem to have growing populations and affordable properties under $200k as well.  

The interest rate isn't that huge of a difference between the 15 and 30 so worst case scenario if you have the 30 year option is you start paying it down on a 15 year timeline - sure you'll pay a little more in interest over the 15 years, but it will have been worth it if you bought another house.

I love the program, as it helps many people who can't afford housing.

If you like impacting the nation by providing affordable housing you can really put people in houses here.

. - What price point can you afford?

Also, make sure you thoroughly research rental demand and average rents in the specific area of Miami you’re considering.