(Please correct me if I am missing something here.)Scenario 1: Financed PurchaseIf you put 20% down and financed the remaining 140k at 4% and factored in 1% property taxes your monthly payment would be $814.21. 

Don't put it in a CDs as you're guaranteed to lose money because of inflation.

I aim for 20% cash on cash return excluding vacancy and maintenance AND 5-10% equity remaining (all in vs.

I understand that it is a very big range, but I want to remain open to any niche until I find the right deal.I look forward to meeting some people!

Is there any particular reason why you want the copper to remain?

While you should have a decent amount of cash reserves for any contingencies, putting money in savings just mean guaranteeing your loss through inflation.

Without that number, and the loan balance remaining, you don't know if it's a deal.

The idea of getting into a situation where a property owner remains in the property makes me really nervous.I'm curious, with that much equity in the property, why don't they simply sell?

The bank gets their payment $2,083.33 and the remaining $2,916.67 is split along the ownership percentage.  

I would do an analysis of ALL the frozen yogurt and ice cream shops in the area within a 1 to 2 mile ring radius to see saturation levels versus population.32 a sq ft is extremely high and likely is an inflated pre-recession lease rate.