Worst case (by my math) if I get the property at 105-110k, with the hard money interest rate (and using the 50% rule) the cash flow will be somewhat small until I refinance into a conventional.

also how can the LTV be 60% but then the down payment be 30%, that math doesn't add up?

I think you have to look at the math.

Without easy lender money, that game will never happen again.There's also a math problem.

The math and the logistics of managing apartments are very different than an sfr though.

Using just rough math the mortgage on that property with your down payment will be around $659.00 + HOA = $919.00 a month. 1800 x 0.5= $900.00.

I have not bought a property with owner financing, so I might be doing the math wrong.

Much of this has to do with some implications in the secondary market.

They all use "higher" math.

I totally get your math and all else equal, you are making the best business decision - in the short term.