However, i want to address placing a tenant.My market has a low vacancy rate.  

We had a discussion about the costs I have endured and the low ball offer to cover expenses for going 5 months past contract deadline but haven't heard back. 

say you find a solid property in a low cost market for $200K and you buy it.between down payment, closing costs, rent ready / spruce up costs, and lease-up costs, you're probably going to need at least 50-65K in cash. 

We also live in a reasonably low cost of living area compared to the rest of the nation where the home prices we are looking at for rentals are between $200K and $250K. 

The type of the neighborhoods where his properties were located didn't fit in with my plan but he did well and the purchase costs were low.

Rates are high, usually in the high 8s or low 9s, and you may pay 2-4 points on the loan. 

I don't see it as an issue but many still do, at least in my small town where the majority of renters are elderly people looking for low maintenance housing options.

Many realtors are not going to work in low value asset areas as those are generally rougher neighborhoods that are probably deemed to unsafe especially for a single women agent to be out there.

Create the payment that’s very low in comparison to what your keeper would bring in rent.  

With HML at least you in theory can vet the property and keep a low LTV to ensure you can be made whole.