So I put $1600 on a credit card for a down payment and then pay $500 a month until the full amount was paid off.

It's all about building trust and relationships, and in the long run, that will pay off way more than just trying to squezze a specific deal.

The superpower of real estate investing is equity growth: the asset appreciates, while inflation and loan payments erode the underlying debt until you own the asset free and clear and can leverage it again.

Getting this cleaned up now would push my credit score over 800+ and eliminate nearly $3k per month in revolving debt payments and bring me quite a bit of peace.

Insurance is going to protect you financially from lawsuits, damages, total losses, and other scenarios we can't even begin to imagine until it actually happens.You'll want to have a broker you can work with and trust that will make sure you're properly protected in the event of a loss.

I guess my question is this: is the very low cash flow (due to my low down-payment and high interest) going to improve?

So, I DON'T trust my ability to determine someone's character based on a few minute casual conversation and I DO trust my ability to manage even difficult tenants. 

Let’s break it down.Moving to Your Next HomeYour equity could help you cover the down payment for your next home.

It is invaluable to quickly calculate a mortgage payment.3.

For a beginning investor, I'd recommend more turnkey properties to get your feet wet while you build trust in your boots on the ground.