Ray, banks are going to consider this a commercial loan, so it will typically range from 20-25% down, depending on the bank.  

Considering Orlando but am unsure what the rental market is like for single family homes in the $5K-$6K/mo range (purchase price $1mm+).

To echo much of what has been shared, I'd start by narrowing in on a strategy, location (town/neighborhoods), property type, and price range. 

I think they might be more in the 2-3% range, so I would assume $4-6k in fees including loan fees, titling fees, etc...- Property taxes look low, but check to ensure they align with the area.- For vacancy, I would use 5% if it's a multifamily (2-4 unit) property or 10% if it's a one unit property. 

Personally, I like to invest in areas with diverse economies.

They range in size from 400-700 sq ft.

See the image below for the range of skills you need to succeed.If you select a city that conforms to all the criteria I listed and found a good local investment team, you should do well.

If you get outside of any metro a bit you can find a house in the $200-300k range but the hard part will be finding something that's not in terrible shape or a mobile home with a few acres of land.

Gives you a little cushion and long range perspective. 

Most of the properties are lower 600's and rents range from 2500 - 2800$.