If the borrower is in a strong financial position, the collateral is high quality, and the LTV leaves a reasonable equity cushion, a low rate might be in order. 

I would save up and keep searching for another property when you have the down payment or a comfortable cushion. 

Your good deals need to provide that cushion if there were a market correction you could still comfortably get into long-term financing and maybe even start looking for those fire sales at the bottom.Good luck to you.

I would like to raise more capital beforehand in order to build a cushion so that any big expense won't wipe me out.

., no ownership rights other than a mortgage lien- interest)  Also, whatever you do, don't borrow all the way up-to your ability to repay-- give yourself a cushion.  

Then when you have more of a cushion, or find a killer deal, you'll be ready to leap.Once you create your ideal criteria, stick to it.

I would just make sure that you have enough of a cushion when you run the numbers to pay for any needed repairs or improvements with the money left over after your downpayment.

Makes sense and it's always smart to use "worst case scenarios" for some extra cushion!

Typically, rents do not got down as much as home values so a cash flowing property with a little bit of cushion should be okay.It also helps to have some reserves in the event of a vacancy or if there are a few months where you aren't cash flowing.

Be patient, save up enough for cushion and then invest.