There will be pros & cons with low-down payment programs (FHA, 5% down conventional, NACA) so you just want to pick the best fit for you.

You only need a place to track tenant information, payment history, maintenance, etc.

Just read an article on ian appito(mangled that im sure) website about senior housing occupancy is dropping dramatically, and not to trust demographic tailwinds just because they sound like good ideas!

.- ID and photo of Credit Card collected for each payment. 

I gave them $16K down over several payments then recently borrowed $14K from a private lender to pay off the balance.

His payment is $3,000/month presently.  

These are ~6-month interest-only loans that have a balloon payment at maturity.

You could make your exact same argument for eliminating the bank payment from your cash flow statement.

Provide a signed copy of the NoteThe investor should be identified as follows:For all investments: Client First Name Last Name>, legal owner via non-trust custodial IRA with AETBe sure to indicate % of ownership on title for multiple investorsSigning of documents:On a go-forward basis we will no longer sign documents.Due to the titling change, the account holder will be the only one that can sign the documents (with the new vesting)Excluded States:Because of a variety of issues we have encountered with the following locations we will no longer accept IRA investing real estate transactions in the following areas: The State of Maryland, The State of South Carolina, The State of New York, Cook County, Chicago, Illinois, The State of Georgia, The State of Florida.

He followed a simple formula: save money, buy in an area you know, like, and trust, then rinse and repeat while learning along the way.