You don't buy a house sub2 if you don't have sufficient capital to make payments if something happens to your renter/buyer.  

There are still areas where you can buy units for $200k/ door but they require a lot of work usually and covering all operating expenses and interest payments can be challenging base on low-ish rent levels in some places.

Congrats on taking the first step, usually people get hung up on only one strategy, and the best way to start your real estate investing journey is house hacking with lower down payments and interest rate since it is a new primary residence, especially since you can probably rent out your primary and cash flow when you move out.I'm a local investor and realtor here in Denver metro, and I've found success with house hacking here in Denver for myself (rent by room, Airbnb, Section 8, LTRs, etc) along with my clients too.

Can I refi a bond for deed or will I have to start over and put another large down payment down?

Along with the FHA loan, check out the loan from the Neighborhood Assistance Corporation of America (NACA).NACA was formed in 1988 and provides an affordable option for potential first-time buyers:✅ No down payment✅ No closing costs or fees✅ No mortgage insurance✅ No consideration of credit score✅ Below market fixed interest rateThere are several requirements to be eligible, starting with attending one of their workshops.https://www.naca.comI wish you all the best.

If it were me, I would contact the caseworker and explain that you want to terminate their lease for non-payment of rent and other lease violations.

Given that I have cash for a down payment and could get a loan for a "cheaper" house is it really the ability to come up with the money that holds people back?

Hello, I am looking for input from those who have used online rental payment applications for their tenants to pay their rent. 

Welcome, Lance Get a great Mentor A great Contractor and Realtor Work on your down payment and Credit

Welcome 1-,Get a great Realtor. 2-Get a great contractor 3-Get a down payment for a property. 4-Work on getting your credit score better.