The restrictions, requirements and timelines on these are very specific and one mistake can be very costly. 

Often times when a builder/buyer moves too fast, or is too busy and overlooks a key piece of due diligence, the unethical ones will try the "scorched earth" method and blame everyone but themselves, even when they know it was their own mistake, and they'll see if they can scare you, the seller, the title company et al into paying damages/fixing their problem. 

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.

It slingshoted from arguably one of the safest, to arguably the worst.

Section 8  rates (and lower) will also give you a rough idea of what your market rent will be.Yours is an object lesson in the mistake of buying what you can afford up front rather than what is a good opportunity.People just starting out should only buy local, that they themselves can inspect and get a feel for.

You sound like you might jump at the first bad application that comes in so you need to watch out for that as that is the worst new landlord mistake you can make.

That was the worst of what I heard.

To avoid those mistakes some people like me trust companies like RTR because they advertise themselves as people to be trusted.

This is a huge mistake as there are other terms and lender administration processes that will have a far greater impact on how much cash is truly needed to execute on any given project and that's the cash amount borrowers should be aware of.How are interest payments handled?

You can either go back to them and let them know that you made a mistake and will be raising it on 1/1 by $50, or, you should raise it in several months by $75.