I was blessed to have money gifted to me from my parents from their LOC (line of credit).

The result was a golden age of opportunity if you had a little capital and decent credit.

I have a local credit union that will loan money to me at 2% for a term of up to 20 years.

Credit default insurance and a home warranty if your cash flow will allow it will allow a property to survive those stress tests

Which banks or credit unions are offering the best deals? 

Did you run a background and credit check?

I recently started listening to the BP podcast and I’ve become extremely motivated to start diving into real estate investing.I’ve been sitting on the sidelines for about a year because I’m younger, 24 years old, fell on hard times (injury put me down for 7 months), I fell into a fog, trashed my credit, foolishly filed for Bankruptcy even though I wasn’t in a massive amount of debt (30k) and I ended up deeply regretting doing so.

I think folks have to get over this... those price points are not coming back.. unless the same issue that caused them manifest themselves again.. a total Credit freeze...  

Its tough to give a spot on answer as I don't know your credit profile, terms of the loan etc, but a 6% interest rate for a non owner occupied property may not be too expensive.

My credit union has offered me a great interest rate for a secondary home.However, they stated that the bank will not allow me to put the property in an LLC, after the purchase.If I can purchase this property with a great interest rate, can I refinance, after a year, with a major bank, and place that property under a LLC?