If you are considering using a more commercial method, such as a DSCR loan, those products are simply reserved for commercial use and not personal.

Over the years I've noticed that it's very helpful to simply go visit in person your city of interest to get a better understanding of the market and the people that live there. 

Quote from @Bhushan Shinkre: Few corrections, tenant simply decided not to pay rent and took further action of asking for refund of all prior payments (legally made via Baselane), which Baselane paid out no questions asked.

It binds the landlord, but honestly has little binding effect on a tenant when they simply choose to leave.

This of course depends on your starting bank roll - but if its like mine (under 100k) - Im trying to put as little as possible into it on top of initial equity and fees.this will likely chew a big hole in your ROI  (now if you are looking to improve value with a cash out refi or a great prospect comes along that needs combo new plumbing, roof, windows, foundation repair, etc - well just make sure you know what youre getting into and/or have a good contractor and finger on the pulse of the market when estimating the ARV YOURSELF - couple missed items and you risk having a bad first investment and not doing it again).    7) dont be scared be ambitious ( i should heed my own advice sometimes) 8) define numbers goals within your target areas.  

If you elect a PPP shorter than 2-3 years in most cases, the lender is simply going to collect that fee A) upfront as points rather than as a PPP, or B) with yield, meaning a much higher rate.  

If so, you may choose to simply add it to the lease as being damaged at move-in so the tenant doesn't get charged for it when they leave.

And you simply deducted lot value then you got to write off 50% of the balance year one.. and there was no recapture after a sunset period.. this was the gulf opportunities act post katrina. 

Solid 2-4 unit properties are so scarce in these areas (~21 sales in last 12 mo between the 2), the market simply doesn't allow a buyer with a low downpayment to enjoy any "income" out of the gate.

@Robert Lum  you bet you can troll around a site like BP read their books listen to the pod cast of those that are successful and talk about their business's.. its inspiring and motivational.but if you really want to learn the nuts and bolts you need to get in the game.the best and least expensive way to do that is to simply take a pre license course in your state.. learn the laws ( the real laws not the BS that is talk about on line).. terminology etc. then go to work with a brokerage in the aspect of Real estate that interest  you.. there you will get REAL training by those that are successful you get on a team.. you get paid as you learn.