The come with lower interest rates; early prepayment penalty is typically 3-months interest; and many offerings have CAPs or the right to convert to a fixed-rate mortgage if you feel the need.  

The easiest way for you to acquire your first property is to get something like a converted house in a business area, that you can use as an office and perhaps split off into other offices to rent out.

@Tyler Veres converting old storage rooms into laundry area with washers and dryers.

@Julio Contreras I just had to make corrections on something like this, and in La Puente, garage converted to a studio, owner says it's for a flip.

It will be 2000+ sqft including the basement which is up to DC Code and could be converted to a rental with minimal work.

Also, is anyone converting tub/showers to shower only? 

Force people to take action by coming over to your website, and opt-in to convert them into leads. 

And while the down payment is simply your cash that becomes your equity, there are other huge expenses that convert your cash into nothing at all.  

This is the route I will go to convert more leads. 

A 3rd option might be converting to a pond.