So with that said I figured I'd drop some out of state best practices for you to keep in mind as they should help you reduce risk no matter where you're investing.Don't buy in the roughest neighborhood in the urban core.

I wanted to get some feedback from experienced investors on how to reduce the loan amount each year to pay less monthly payment..It shows if putting 25% down that is $231K and  a loan for $693,750.   30 years at 4.25The NOI is $49,560  and the projected debt service is $40,954  the cash on cash is 3.72% thenSo before tax cash flow is $8606Doesn't seem like a good deal and how can the monthly loan payment be reduced? 

I want somewhat of a newer home since the property maintenance reduces and you can hold it much longer, as mentioned in (1)75K down payment is also fine with me, as I mentioned earlier, but not willing to beyond that.

Unless I can find a way to drastically reduce the amount of cash I have to invest in this deal to make the cash flow work!

You pay 8.5k in cash, they reduce the price 8.5k.- renegotiate down 17k with the reasons I stated above.

For example, Wells Fargo has relationship discount where for every $250k asset you move to WF bank account, you get your rate reduced by 0.125%.You might just save yourself $10k but just a simple askExtra Tip 2: Credit Hard PullMany people are worried about hurting the credit scores by having too many lenders hard pull your credits.

You two could potentially link up and reduce your skin in the game by working together.

Sure you lose the riding free across the plains "vibe", but you also spend a whole lot less time and energy avoiding "marketing a property instead of a contract" when you can just market a property.Just my 2 cents

By using the longer term mortgage, you reduce risk by having a cash flow cushion.

When you put yourself in the position where you do not have a professional operating on your behalf you make yourself very vulnerable and you reduce your opportunity for a good deal.