In those cases where a tenant suffered a minor setback and is back on track, if they are scheduled for a hearing before they're evicted they will often pay before that or when they see the notice on the door, but only if you file relatively soon.It really is good screening and filing quickly and consistently that minimize nasty non-payment issues in just about any kind of market. 

I will be into it about $9,371 with closing and have a payment PITI including HOA of $1,205.

I financed this property using down payment funds from 403B and a local commercial bank. 15% down from personal funds. 85% down from community commercial bank. 3yr balloon, 20yr amortization, 7% interest rate.

This would be an opportunity to discuss deferred payments and a 5 year balloon. 

Is LBYM long enough for a full down payment really worse than the stress on your family? 

For the property I purchase, I’d like to keep my monthly mortgage payments at $2,000 or less.I prefer a turn-key property since this is my first rental, and I want to start generating monthly cash flow immediately without the delay of repairs or managing two mortgages.

I cash flow them to buyers on lease options with a hefty option payment up front to me.

The only slight red flag was that they only accepted payment via Venmo or wire transfer, but that's how I accepted payment when I was selling lead bundles, so I still thought it was worth a shot.

And of course, if your actual cash value is less than the current mortgage(s) on the property, all of the cash value payment will go to the lenders. 

When you say you have$150,000 available, is that for a down payment or the total purchase price of the investment?