What made you interested in investing in this type of deal?

You need to think about the type of tenant you will attracts. 

Depending on your location, property type and down payment, you might be able to lower your current living expenses. 

The LTV ratio will reduce naturally over time as the loan is paid down and the value of the home increases.Depending on the type of loan requested, their LTV ratio requirement may be higher or lower and general examples of what it can be are given below in the table:Loan TypeLTV ratio requirementPMI requiredFederal Housing Admnistration (FHA)Up to 96.5%Required through loan periodVA and USDA LoansLTV ratio up to 100%Not required.Fammoe Mae and Fredddie MacLTV ratio of 97%Required till the ratio falls to 80%Source: Investopedia: Loan-to-Value (LTV) Ratio: What It Is, How To Calculate, ExampleDo note however, that the LTV ratio only considers a single mortgage loan when purchasing a property and doesn’t take into account any other money borrowed against the property.

What made you interested in investing in this type of deal?

There's nothing personal with it unless you're one of those influencers or promoters type, but otherwise it's all market talk and insight.

It also depends on your current financials and type of loan you get (DSCR or traditional.

Not a home run by any means but a win and he goes from a 0 exp to a 1.A type personalties are going to hate OOS investing. 

You are mixing up two different things.You will probably form an LLC that will own the property.You will then have to decide ownership percentages, who managing partner will be and who will do what.For tax purposes, you will need to decide on corporate type: C-Corp (no), S-Corp (maybe), partnership (1065 tax form). 

Can I use a hard money lender for these type of purchases?