Or is there a better option to finance? 

Online Banking and Mobile App Access: Efficient management of finances is crucial for real estate investors, who often need to make transactions or check their account balances while on the go.

So, I suppose you would shoot to stay under the 75% with purchase price, rehab, and any financing costs?

This is very true, and even more true in today's market where financing costs are higher but prices haven't adjusted fully to compensate this. 

Since i paid cash for new michigan home i can use it to finance the future MI rental home and pay it right back off again in 2-5 yrs if i need to,  Im going to try to not do that.I had come up with this plan all on my own but had no real idea of how to execute it and i had ZERO practical experience. 

All the properties are paid off except one I have with a owner finance deal.  

You have cash buyers who do not care if the purchase price is 200k or 230k but if you are using financing and trying to stick to a formula for what defines a profitable project that 30k means everything. 

This strategic move paid off handsomely as we were able to command higher rents than initially projected.Here are the key financial details of the deal:Purchase Price: $270,000 (jointly with a partner)Financing: Obtained a commercial bank loan with a 30% down payment, 7% interest rate, and a 20-year amortization period.Initial Rents: $1050 and $1250Current Rents: $1400 and pre-leasing for $1500 (making it a 1% rule deal!)

How did you finance this deal?

How did you finance this deal?