There are loan programs that will do a 20% down payment with a 680 or above credit score. 

We decided to team up and try to take down our first deal together because they had reliable sponsors to sign on the loan and it seemed like we were working well together, at first at least.During the same time a different student that came through the high pressure three day course with us found a deal and had my partner help him underwrite it.

Know that every long term lender will require a survey and if something comes up on it when you are trying to sell or refi, you could get stuck in hard money without an easy or quick way to get out.Is there a pre-payment penalty?

The maximum fixed-rate period seems to be seven years, and there is generally a balloon payment at 10 or 15 years.

It's probably going to mean paying points at closing, a high rate, and a serious pre-payment penalty (like 5 years). 

am working with them now and had the first policy (with Spinnaker) cancelled for nonpayment/late payment so we rewrote another policy (with Millenial) and having the same payment problem again but at least they are communicating that cancellation is coming. they want me to pay by credit card over the phone so the payment wont be late and cancelled again. but when i go to mycoverageinfo.com to check on status it shows its been paid.

And if I find a reliable agent and reliable property management company in one of those cities, then I'd start there.

I’m a fan of harvesting the equity to buy more and more cash flowing properties with zero out of pocket cash for down payments.

The only slight red flag was that they only accepted payment via Venmo or wire transfer, but that's how I accepted payment when I was selling lead bundles, so I still thought it was worth a shot.

I wouldn't worry about the $1000 payment.