You may pay half a point more in interest but can often close for a set amount, usually <$1k. 

@Todd Hendricks usually location. 

I also own BetterResidence, SelectShelter and SunnyShelter (all .com) but when polling friends, many replied both had immediate negative connotation (they thought of homeless and animal shelters) and I fear I will forever be asked if it's betterresidence or betterresidents.

You can usually fix these issues and these will provide an immediate boost to the property's value.Also, I would say chances are good you can find some motivated sellers in these areas.

Downside is the rate is usually 5.5% in my area and are 3/1, amt @ 20 years. 75% LTV. 

There are obviously other reasons for someone to pay above market rent that are not negative but there are few and far between.

They are usually trading 150-300 basis points higher cap rates than an apartment would and would be valued as such.

What is the city or state law for pets, (usually it's something like no more than 3 per cat, dog etc.

You'll have income of $2,800.Monthly Cash Flow is NEGATIVE $350.

I did notice that the post said most portfolio loans have a higher interest rate typically than what you'd get with a conventional lender, and that they are usually shorter in term or have a balloon payment.Based on my personal situation, I shouldn't have much of an issue getting conventional financing for the first few properties.