Yes Bryan, I just said in the post you replied to that I am looking into properties that the seller is willing to hold the note on going forward :)

By that I mean it's supposed to be a "clean" calculation that reflects how a property is performing on an ongoing basis irrespective of how it's capitalized or whether you had to replace a $7,000 AC unit last month. 

No I want to do this as a ongoing business.

We plan on going back to the home once my time here is up.

Congrats and best of luck on going full time.

Make sure to ask the GCs if they have any current, on-going projects going on. 

Cash flow will be good, but ongoing maintenance and repairs will cost money, too.Class D properties are the run down properties in the crappy neighborhoods.

Generally with rental properties they aren't too keen on going above 75-80% LTV and it's pretty difficult to get one to go as high as 90% let alone 100%.

Whats some good advice on going about this?

During the inspection, talk to the tenants and get information from them about previous repairs, deferred maintenance, and ongoing problems the seller may not even know about.