@Keith Jefferson yes this looks like a cookie cutter local bank product.

I think if you are looking to use an FHA product you will ultimately be unsuccessful because FHA doesn't really work for 99% of wholesale deals.

Those retailers just mentioned are getting a huge push from demanded product.

Since these types of mortgages are not backed by the government like Fannie/Freddie conventional products they rely on secondary market buyers on Wall St. for liquidity.

Unless you have terrible credit or other financial hardships, I would strongly recommend you explore what low-down payment conventional products the local banks and CUs offer.

Does anyone know a mortgage product or lendor that will offer something for a non-owner occupied investment with less than 20% down, preferably 15% or less?

This product eliminates you investing any time at all regarding this important issue.2) Also correct, however in point three you mention "dings" on your record. 

It would be nice to have a great relationship with a lender.The lender that can guide you on the different loan products a bank offers and one that would push you to get the loan as opposed to just saying "no, you don't qualify".

The interest rate and terms seem most dependent on perceived risk, LTV, property quality, borrower strength and experience, and sophistication of lender.If I misunderstood your questions please be more specific and I’ll try again.

I had better luck with local smaller lenders as they can be more lenient with there loan products as well.