I'm pretty inexpensive (about half compared to typical small firms) because I also work full time as an attorney, and merely practice on the side to assist with my real estate deals and pay down law school debt (which is mortgage-sized), but I'm also very good (graduated with honors, guest lecturer, published papers, etc). 

I'm not too sure on what you're asking, but if you are in the process of applying for a mortgage your lender will be very unhappy if you open new debt during the process.

This is pretty standard with owner carry contracts anyway.2) The use of debt-financing will expose your IRA to taxation known as UDFI.  

Having all personal debt paid off will help you get a loan also. 

If your 24 with no kids or debt, or car you can do that city at that income. 

I think this will also push me a bit more towards fixed rate debt (as @Brent Coombs suggested), although it's just hard to make that trade-off well given the levels, a 7/1 ARM saves a couple hundred bucks a month vs 30 fixed, which would go a long way to either paying down the principle or compounding that cash flow into additional properties...Thanks folks

Keep in mind that you may run into debt to income ratio limitations.

At the settlement table, all the seller sees is cash.  

You need to factor in physical vacancies, rent lost to lease (you raise rents but can't raise on people already there), bad debt (not everyone pays), and concessions (free month on move in!)

If that's you we can provide either debt or equity to grow your business.