If you don't need the monthly income, devote it to paying those loans down faster.I do also agree with others here that a fixed rate loan right now is the better option, as rates are likely to only increase after so many years of super low rates.

Most of these deals will be bought up all cash with low DOM.

I used the bigger pocket tool to analyzed it, the hard money lender and the sale price were the keys. if I can find low interest rehab loan, or I can sell the house for 150K, I could make profit.  

All those parameters will impact your numbers eventually.BTW: I think 6% property mgt. is a bit low (might not get you the value you need from it)

Luckily, I wasn't in the need to use my credit because I went from high 700s to low 700s once the card was fully reported. 

I am now just about ready to purchase another multi and am having a hard time finding other low down-payment options to utilize. 

We have paid the credit cards down by (under 29% usage) in hopes to post his score but its still in the low 600's.

In my opinion it is fairly low risk but high return.

@Malia Irvine I suggest you read the " The Book On Investing in Real Estate with No and Low Money Down" It was written by Brandon Turner.

It can be $100 to $500 an hour or more (New York ;-) Anyway, you need a basic attorney service (closings, reading contracts, advice) so it should be on the low end for your area.