Getting into the MLS is key to get exposure to all Agents in the area who has pre-qualified and/or CASH. 

Daria,Even with fixed income you still qualify to take cash out through a mortgage (cash out refinance). 

The owner bought it for cash, so no mortgage.

We are taking a cash out loan on my primary residence since the rate is over 1.25% lower.

However, ensure that the transition to 6% interest after 2 years is manageable with your projected cash flow.

IO also is an option if concerned about monthly cash flow. 

They were investors, and would not pay more than what they could rent it for and make a positive cash flow.

As a Spark investor, you are effectively paying double fees (Rise48's and Spark's) and then the cash flow coming from Rise48 is stripping 30% off for their carry, and of the remaining, Spark is stripping another 20% for their carry.  

If you can swing that and you can find a duplex or 3-4 unit that cash flows.

Not enough info here to tell.....Do you plan to finance this or pay cash?