There's a few different ways to focus on a lower rate such as with house hacking and making the investment your primary residence, requesting a significant closing credit from the sellers for standard rate buy-downs (which I've had great success with recently), or utilizing lenders who offer short term rate lowering solutions such as 2-1 rate buy downs (again, ideally paid for by the sellers).

@Chris Collins  Tenants usually pay all utilities. 

However, if you intend to work with a hard money lender or utilize a short-term loan product, you're on the clock for repayment, which can be stressful if things go sideways. 

Most likely raising funds from passive investors would utilize a Reg D 506 b or c safe harbor exemption from registration.  

On utilities, I bought a foreclosure in NJ and found out it was not attached to Town sewer and I actually had to extend the main line up to my property then put the lateral in and abandon an old cesspool.  

From what I can tell, the extra equity on the house could be utilized to provide better ROI.  

The first apartments I rented as the owner, were previously rented by the former owner at $150 month including utilities. 

Tenant handles all utilities and lawncare.

Tax savings are amazing and I have utilized cost segs myself, but you also have an opportunity to make an amazing return on your money in the Tampa Bay market. 

Plus the challenge with mid term is you are generally on the hook for things like internet, utilities, etc.