Speaking broadly, I think the best investment strategy involves finding properties that aren't fully utilizing their income potential.At a more sophisticated level, that might mean buying a fourplex of large two-bedrooms, making relocation agreements with the tenants, remodeling the units into three-bedrooms, and then renting them out at market rents.

@Ben Russell- thanks ..ARM rates are definitely higher / worse than fixed rate options  ( especially on invst properties ) ...Use the  30 yr fixed option and make sure you have the delayed financing aspect figured out ....no way you will be able to get mid  6% range at this time 

A good PM can turn a mediocre investment into a solid return; a bad PM can ruin a good investment.A good PM can also help you narrow in on the best neighborhoods, cross-check what your REALTOR tells you, and line you up with solid contractors.I'm biased, but I don't think there's a more important person to have on your team.

My initial idea was 10-20% down with 7% interest rate for 10 or 15 years after doing research. 1 person suggested a balloon at the end and another person advised against it. 

I have worked in sales for several years, and am used to this, but it still frustrates me at times.Set your offer range and stick with it!

Nice area though and properties probably will hold their value as long as kids go to school in person at a building/campus. 

Maybe you can personally inject the $89,000 into the project even though it is not in the budget.

Personally, I would avoid any sort of Airbnb arbitrage.

It means an extra call/text for whoever is giving notice or letting the person in, but it will make sure it doesn't happen again.

I have personally seen subs who specialize in storm water management systems as well if that's something that is necessary.