Example with conventional I have 20% down, if the refi requires 30% to stay in then the extra 10% is limiting.Rents in the areas I am looking come in on average $2000 mo. for a place costing $250k.

If your tenants start leaving at the end of every leasing cycle it will cost you dearly.

Since you'd be looking to hold this property long term, look at what the property's cash flow and appreciation would potentially be 5-10 years down the road to help inform your decision.All that being said, if you feel confident that you can cover the maintenance, capex, vacancy loss, turn expenses, and leasing costs for a few years while you wait for the cash flow to improve, and you have enough risk tolerance to handle a potentially difficult tenant in the first few months which could lead to zero rent coming in during that transition to getting a new tenant in place, then it sounds like a solid deal to get into with $0 down.Lastly, I'll also caveat all of my statements above by mentioning that this all requires you to self-manage the property. 

@logan @Logan M.don't tell these people the truth we don't need them in our niche, no competition is great 

Then I would get an attorney to help with the eviction cost. 

Total cost to me = Free estimate. 

Before you spend any money, you just need to price everything out (i.e. cost of homes, moving costs, installation, hook ups such as electrical, water, etc). 

It comes free with my MLS subscription as an agent, not sure what it costs outside of that. 

Keep in mind, most sellers know that a money market throws off nearly 5% right now and the terms I see expected are not competitive with a bank.

We are also going to repair and clean the home at no cost to the seller if he is There is also an addendum that says they are also entitled to the profits (split with us) if the home is sold by us.