Super low down payment and much much better rates and terms. 

I just posted a video about this, but "BIGGER BROTHER", lol, made me take it down.

1. you're right in the new ones from developers don't produce any cashflow. you might want to look at the secondary market to get better yields as the properties are already built and can cashflow right away. also easier to see comparable rents in the same development. check bank repos, distressed sellers and the like. you might also want to get a parking slot for added income as they can be leased out separately. it's also quite difficult to sell without one should you decide down the road. developers usually have an in-house leasing team to handle property management which we use for some of our properties.  

I would say you should start trickling down the type of investment property that you want to start out with(Single Family Home or Multifamily) and are looking for so you can start your investment portfolio! 

Still not sure what direction I'll go, but STM is definitely on the table - thanks for the insight.Do you think cash flow opportunity changes if you are able to purchase higher priced properties and get good rates/put decent down payments on, or is it just a Denver/high price city issue.

Some areas of Hilton Head saw a higher increase in value.

I also wouldn't consider that part of my investment because I'm actually not taking money out of my pocket to pay it down. 

When it comes down to it, a letter usually only overcomes small differences in price and terms.

I'd like to diversify my real estate portfolio and get involved in syndications so I can put less money down in some real estate projects. 

A candidate could meet all of your criteria based on their income today, but quickly not meet your criteria if they stop working or their income goes down during leave.