My main goal in real estate is to obtain consistent cash flow in order to have financial freedom through long term rental properties.

I would first try to decide between how active/passive you want to be and what your goals are for cash flow/appreciation.

@Caleb Heimsoth, my 12-month goal is a single transaction growing to 5 properties within the next 2-3 years and 10 in the near-term.

Would those other properties better help you reach your ROI / investment goal?

My goal is to keep my mom in her home and to minimize her monthly payments.  

Rarely is that rate bump worth that LTV bump IMO. 60% LTV is actually the Fannie sweet spot, if stopping there will not get in the way of accomplishing your goals.

, What are your long term goals?

Have some guidelines on what you are looking to buy.Write out your goal that you want to achieve with your purchase.  

I definitely did not want to backtrack on my offer and lower less but after physically inspecting the property and the neighborhood it was located in, I realized that it wasn't ideal for my investment goals.

What do you think is a realistic goal given my limited income and age?