(1) Follow your mortgage broker's advice and go with a low down payment on your first deal. 

Quicken has a bad rap with investors because it advertises low rates and then has massive closing costs.

If you need funds to also rehab an investment house flip there is a 30 year fixed rate loan for that , also at 15% down.Rates are still low today so I would say use the banks money at a low 30 year fixed rate and retain the security of your equity in your personal residence.

Was the offer of 175k low?

One is a low risk,  low margin strategy.

Hey one question I didn't see anyone mention, how are the investors closing costs so low?

Normally when they don't counter, my offer is too low - per my agent.

@Angello CampbellCap rate is really low. 

I'll use an example with similar numbers because I want to truly understand the reasoning here:On the high end, the interest rate would sit around 5.75%, at the cost of -.125 points (ultimately resulting in a lender credit of $164) and a P&I of $766 per month ... on the low end, the interest rate would be 5.375% at the cost of 1 point (around $1300) with P&I of $735 per month.Given that info, this is to say that if I planned on holding onto this property more than 42 months (that's $766-$735= $31 per month... then $1300/$31=41.94 months), then it would make financial sense to pay down the percentage rate up front at 1 point because beyond 42 months, I'd be saving money every month...

Low LTV, 60 - 70%.