Once I had more money to put down and landlord experience under my belt financing was much easier to get.

The better the deal, the easier it should be to find a partner because you can afford to give up more in the short run in order to own it in the long run.

Going to the site to see their chart makes it easier to understand. 

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The thinking is wealthier clients tend to be more experienced with a variety of investments and have investment "savvy", can understand risk and absorb losses easier and can understand these complex investments better.  

I've used the Rental Income calculator on here, and it seems to be a decent cash flowing investment, however it appears I won't have any equity for a few years if I purchase it above asking price.        

They get easier with each one.Since you live in NJ, a high cost and high property tax area your other option would be to buy out of state.There are many markets in the US where you can get a nice house for 75-100k.

This will allow people to get to know you and find you easier. 

Other banks want the tenants to appear in-person, which is a burden and in some cases not even possible. 

I figured it would be easier for each tenant to just transfer money to me individually instead of one person collecting it from the other tenants, but now i see the benefit of doing that instead.Once again, thanks for the input!