Small local or regional banks are recommended.

@Wes Love Local and regional commercial banks are great for these types of deal especially if you do not have multifamily experience but they will be full recourse. 

In a nutshell, I’m interested in single family rentals in our region to start my REI journey.  

Not knowing the age and location of the units, I'd probably do 8-10% for repairs, insurance varies so much by region, I couldn't give you a ballpark without knowing where this is.

I know it varies based on the company and region but I’m a bit confused.

Wonder what other regional names there are to describe this phenomena

Daly with Regions Mortgage in Indianapolis has 100% financing with no monthly interest - if the seller is willing to cover closing costs and prepaids, then you can typically purchase for very little down, minimum of $500, should you have a credit score of 680 or more.If you'd like her direct information - feel free to send me a message - she's a great contact to have even if you don't pursue a loan through her directly.Good luck!

Maybe it's a regional thing.

The cost of septic systems can vary by a huge amount, even within the same region.

I’m Jonathan Capua from the cold region of Anchorage, Alaska.