My strategy is to have consistent monthly payments and I'm okay with putting off renovating. 

It's a lot of cash investment in rehab and this will be my first investment only property.

I am not expecting to make much (if at all) cash flow right now but do not want to have a -ve cash flow.  

Heloc, cash out or any other strategies?

If a lender saves you $200/month on the payment but you spend an extra $8k in fees, you didn't get the terms you think.

If real estate is just a side gig and finding deals is tough right now, it might make sense to hold onto cash and wait for a better buying opportunities.2.

U usually have to bring some cash into the deal that is more than 10%..  

He acquired a tenant for the SFR at $2,550 a month, bringing his cash flow to $850 a month.

Looks like Landlord wants to terminate the lease without costs to him, he gave me a check for the security deposit (with memo noted: lease cancellation) and keeps insisting that I cash itI didn't agree nor imply that I want to terminate the lease and I didn't cash the check

2nd questions; I Just got pre approved for a non QM product: 20% down, 8.25% interest rate, 12 month pre payment penalty period, 2 points, and Conforming Conventional product: 25% down payment, 8% interest rate, no pre payment penalty, 1 point fee. 2-4 unit in Ohio.