Can anyone shed some light on what kind of down payment, terms and qualification requirements we would typically be looking at for an SBA or low down commercial loan?

Look for a location with low crime, then look for the neighborhoods with the best schools.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

If the other two parties want to flip a house maybe they can do just that as partners and then sell you the house which you can buy with a primary home loan with low down payment.

The vacation homes offered a low 10% down so that was helpful.

It’s a cost, but it saves time and headaches.5.

It's the cash you put in that's your cost for the property. 

Mortgage rates and PMLs are 8-12% plus points right now so the deal has to be a low enough entry. 

Occasionally I'll see properties coming on the market where the seller has a VA loan with a low interest rate.  

. - You have no recourse against an agent or PMC once you pay them for the placement and it turns out to be a terrible tenant:(If you have the time and network and post here for assistance, it's always a good idea to learn the rental business from the "ground up".Of course, one mistake can also cost you thousands of dollars.