Any experience landlord here, can see what you presented and will clearly tell you its a problem.

I have experience with BRRR's, buy n holds, and flips with clients all over the country!

The experience taught me a lot.

Finally, even if you experience negative cash flow, remember that a portion of your mortgage payment goes toward the principal, meaning you’re still investing in your equity.

Most lenders require you to have two new builds of experience.

While a lot of what you'll learn will be from experience, I do think there are some resources to increase your knowledge base and give you more confidence as you take your next steps.One book I'd highly recommend starting with is The book on managing rental properties. 

From my own experience, I know that letting personal biases or bad feelings about the seller or property affect my decision-making can cause me to miss out on chances.My first mistake was being too set in my ways and not being able to think outside the box.

Was such a weird experience??

Also, I have read something about a bigger down payment, but wondering how this works if I were to assume the existing loan? 

Their experience and unbiased perspective can provide critical insights that would otherwise go unnoticed.