Cant speak for the other markets but here in College Station, you can get low-interest-rate loans even as an investor through the builder's preferred lender! 

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

By leveraging market knowledge and strategic partnerships, we turned a modest investment into a profitable transaction.

Hi BP, I'm looking at a few off-Market deals in Cleveland OH, this will be a new market for me.

It looks like those loans require 20% down, and I've been guided as a sort of philosophy, to use as little down as I can do that I can deploy more capital into other projects. 

Libor is used by banks – it is the interest rate at which banks lend to each other in certain London money markets.

On one side it's good because you don't have any vacancies but it can be bad because many times rents are under the market and there might be needed updates and repairs that are hard to do with tenants in the property. 

Are the units currently occupied and tenants paying market value for rent? 

(Yeah, that last one was a snarky comment.)CONSYou lose the homeowner capital gain exemption. 

Could be a cool asset if marketed and managed correctly.