However, another option is to call a few local credit unions and banks and see what options they have, they might just require you use them for your operating account and some might even require some deposit minimum too.

I am currently active duty military and looking for investment options for the property to create a passive income and build wealth.

If you have any sort of injury you suffered from the military, GO TO THE DOCTOR and document it.

I like the fact the Little Rock is the capital of Arkansas and there's a couple military bases that are north of town so there's tons of government jobs.

I don't want them collecting rent and then driving both checks to the credit union to pay. 

15/30 balloon conventional through local credit union.

Would a local credit union/bank be able to support this at purchase and/or once the rehab is completed?

I have areas about a hour where I live with a military base houses around 90-180k not great area but hopefully a good spot to start. 

I’m trying to take advantage of federal programs while I’m in the military.

It literally "feeds" and gives life to  other lagging, bottom-feeder states within the union.