If you also have different exit strategies (refi, dispose, hold) you also need to use IRR. It’s

You can land a quality property and get more yield having the seller hold a second with cash on cash.If you want lees debt risk you can put the 50% down and probably get non-recourse but the reality is your not walking away with that much skin in the game if things get tough with the property and the lender knows it.Brent what time zone are you in??

When a hard pull was done prior to close, or bank statements were provided and required sourcing & seasoning, the lender can kill the deal because they want true equity/skin in the game from the applicant.

As it is your first deal, most other investors will want to see that you're putting some of your own money in as well(skin in the game).As it is an off-market deal, you won't need to worry about other buyers as of yet. 

I personally believe that the more "skin" the tenant has in the property the more they will take care of it.

They have more skin in the game then you do.Make sure you get clear title.

It is sales and you really have to have tough skin and not be afraid of “NOs.”

I would find a partner (with skin in the game) in any area that interested me.

Get thicker skin stop worrying over silly things You need to get over being afraid of a vacancy or the place being left a wreck because it will surely happen and part of investing .

While I haven’t used IRR, it good as long as you can make reasonably accurate assumptions about future events.