There are many reasons for this, too much to write here but, in a nutshell, the economy is a mess, inflation is not under control as the fed would like you to think and the housing market along with all other markets escalated so fast and high in such a short amount of time that it created the largest debt bubble in history, it's not sustainable and 2023 will be the beginning of a long and deep recession.

I applied for a conventional loan and got pre-approved for 1m using most of my money as downpayment.Interests rates kept changing as the Fed raised them currently the pre-approval rate is around 8% which everyone has told me seems high.My income was really low this year which means I'm relying on rents to cover the mortgage.This was to buy a duplex or triplex.I've been looking for a few months and even with a lower interest rate, say 5%, it's hard to find a property where the price of the property and the current rents of tenants work to cover a mortgage.

Great.Now how many of you when you are fed up with your tenants are going to sign a contract with a wholesaler and sell that house for below market value and allow the wholesaler to get $7K+ out of YOUR equity and then leave enough meat on the bone for a flipper to also make money?

The fed has come out and said they are not lowering rates this year, so interest rates are not going back to 3% unless some drastic changes in the bond markets continue.

I am not big on financing even if it holds us back some.In the PP industry I have learned it's all about how many non preforming loans the bank has in their portfolio that makes them have tighter rains, foreclose quicker, and liquidate before they are in trouble with the feds.

With seller Financing it's almost a sky is the limit situation on terms & conditions as long as you stay within Fed/State guidelines.You can structure a deal many different ways with a combination of terms, down payments, balloons, amortizations etc,The real key is sitting down w the seller and determining what they are trying to accomplish and what benefits them. 

I anticipate the Fed will begin raising interest rates slowly but surely to hedge inflation, just a matter of time. 

This sucks, but if it is not sub metered when you buy it, you have to include it in your numbers.Do you have any landscaping like grass that requires lots of water?

He has a course if you want it all spoon fed to you.  

Sellers hope for all cash buyers, or they can assume in place debt and still pay a premium, or are 1031 exchange and put 60% down for almost zero cash flow and hope blend up with rental increases and hope for refi in 2 to 4 years if Fed starts reduces rates again.