Your focus should be on optimizing rent growth, vacancy, and major expenses.

It doesn't take too much optimism in projections to go from a 3% return to an 8% return.  

Better to get good value properties in good areas, optimize their revenue, automate as possible, get good support staff, top quality online systems, serve your clientele, learn how to perfect your process, etc. 

I'd jump on that deal, even without optimal financing terms.  

Borrowing from qualified accounts is not the most optimal way to get started in real estate. 

For example, rehabbing a property to suit your tastes may not be the optimal approach depending on the market. 

Further, our agent worked through the weekend (a trait I highly value) & had good intel from real time convos with the seller group.COLLABORATIVE & HONEST PARTNERSHIP CONVOS: Our investment principals were candid about current capital & time avails (prudency is optimal in this mkt).

I am seeing quite a few properties nationwide with 70-80% occupancy with rent optimization and value adding potential.

In this way, my partner and I will each receive 49% of the operating income through the pass-through entity (with income, capital gains, etc. individually being managed and optimized through individual tax planning) and the LLC will further offer us indirect control while still limiting our personal liability exposure as it's an LLC.  

Young people tend to have lots of energy and optimism, that can burn you by leaving you over extended with time and resources.