The property could have liens that got negotiated during closing and bank lowered the price versus paying for it.

The cash flow from a few rental properties could give you financial security and a quality lifestyle so you can live where you want, do what you want, travel when you want, and eat out at restaurants when you want… versus a lifestyle where you are struggling to survive.

Be aware, though, that a bank will likely accept a lower offer that is all cash with no contingencies versus a higher offer that has contingencies like financing and inspections.So, back to what you should offer.

What is actual rent versus stated rent ( example to get a tenant in they waived or reduced security deposit or gave first months rent half off or free ).If the unit said 625 rent but they gave move in special for free then you have 625 X 11= 6,875 / 12 = 572.92 actual rent rate.You need to find out why this occupancy is at 83%.

If someone approaches with a low interest loan making a bunch of promises I would run from that.I would just call a large national capital company and they will tell you why something will or will not work and how you should change it.Developments projects are a ton of work with no payment until the back end unless you take draws as a consultant etc. during the phases.These days I just help transact existing properties as the pay time is 2 to 6 months versus years.

I prefer fixed rate loans.You can do arm's but then you have to figure in refi down the the road costs and a possible higher debt service which could wipe out any potential lower basis point savings with going with the ARM versus fixed upfront.

I think Brian has some good points about leverage, but keep in mind this works better in some areas versus others.

But, these are generally situations where there's an opportunity cost to using cash now versus later.

The numbers above is just an example and of course their will be collected rents versus gross etc.

Look up the amount of violent versus non-violent crimes reported and if the frequency if reducing or going up year to year.