New products (like LVT) come on the market all the time.

Does anyone know of a loan product with less down than this?

I worked for a small firm in Constriction Engineering Products, Johnson Controls, that sold air and water control equipment to large apartment and commercial building contractors.

AC did not purchase that property with the intent of holding for productive use. 

Surprisingly, those more then 30 days, but less than 60 days behind, has declined a bit (ignoring July).

I considered this a good deal; good enough to justify the additional risk in purchasing with a potential RE price decline. 

This is a business, the tenant bought the product, they used the product, they need to pay for the product.

If the prices will start to decline than they can say goodbye to their LTVs.

This is a tricky time to purchase but there are some benefits - i.e. low interest rates, properties sitting on the market due to COVID, and anticipated high rental demand since FHA has tightened up lending requirements.We haven't seen much of a decline in rental inquiries for the apartments we are listing.

Your roommates won't want to live through a reno.Risk adjust your offers.Look into non-FHA, low-down payment mortgage products.