Adjustable rates are higher risk, and as others have said here, the fixed rates you listed for conventional loans are still pretty darn good in the scheme of things.

Buying deals is a good strategy any time, and blips that last a few months or a few years don't matter in the grand scheme of holding something for 10+ years.

Tenants will be harder on things than you would, you want something durable.Paint all the rooms the same colour and buy a 5 gallon container of paint. 

where do you fit in this scheme. ? 

@Andrew Postell @Chris Mason This is a very helpful insight to the grand scheme of the situation.

In the grand scheme, 5% is still very cheap interest, and in a few years, everyone will be wishing they would have grabbed all the properties they could when interest was "only" 5%  Rates definitely will not be heading back down in the near future; the smart money will be buying now.

I consider it a nuisance of landlording but in the grand scheme of things it's easier to get it operational and move along. 

I need to understand in the grand scheme of things that $1k is nothing when it comes an investment property.

Basically, the mindset is that I am using a VA loan (0% down) and planning to hold the property for the long-term, so me having to pay $15K for repairs out of my own pocket is a small number in the grand scheme of things.

No get-rich-quick scheme here!