You are competing against other owners who have a much lower basis and/or debt cost to cover. 

Two views of ownership; owning the equity,  owning the debt. 

any lender wants to know how you plan to service the debt.

If it is indeed I/O, I would just make sure you have enough NOI to cover the refi with some conservative debt sizing assumptions.

The math behind Real Estate is not that complicated, Revenue - expenses and debt service = cash flow. 

We vetted a  handful of "turnkey" companies and REI Nation was the best in terms of reviews across multiple sources. 

If there is no debt service probably 30% is still going of the rent is still going to operating expenses which means that you only made about 480k or so. 480k rents + 800k property is the same 1.3million roughly.

Mgt, Landscape/Snow, tax, insurance, utility then debt service. 

In the beginning the goal would be to get into the market so you could start taking advantage of appreciation, tax advantages, and debt paydown. 

You can claim to be the best guy in the world at finding and analyzing deals, but when the market turns against you, and you just went all-in, even on the best relative opportunities that market had available at the time, there is nothing you can do to prevent losses, especially if your debt has a maturity date that will force your hand.Timing the market is an interesting concept.