It is more expensive but may not require an appraisal and can close in a couple of weeks. if I can wait then I use the most competitive rehab. lender after obtaining multiple quotes. 

Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:• Purchase Price: $215,000• Down Payment: $43,000• Loan Amount: $172,000• Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):• Monthly Payment: $1,573.39• Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):• Remaining Balance: $78,556.96• Monthly Payment: $1,541.18Additional Conditions:1.

Pretend to be a renter and shop the competition.

Additionally, Airbnb income during this period could generate steady cash flow, though market conditions and regulatory risks should be considered.

I try sending a video or doing a live video walk-through with them so they can get a better idea of the layout, condition, neighborhood, etc.2.

It also depend on the condition of the property. 

We feel this encourages/trains good payment behavior:)We have several MoveIn Specials owners can approve like, free TV, Washer or Dryer (used), etc.Our main goal with MoveIn Specials is to stand out from our competition. - Just lowering the rent really doesn't do that.

They often have access to off-market properties which gives you less competition.

If I were investing in eastern WA, or where my extended family lives in Pennsylvania, those 100k houses in good condition are a real thing there.  

Some times in between there in rougher economic conditions it was getting unexpected vacancies.