I know they have a cap at 10.We have also looked at using local banks in the area but those terms are usually 3 years arms to ten year arms and 20 year loans so it lowers cash flow significantly. 

You will have to pay higher personal income tax rate, versus waitingtill after one year for lower Capital gain tax rates.

.- Investors get access to real estate cash flow with lower costs and no landlord responsibilities.- The whole process is simplified—no co-ownership legal headaches.I’m curious about the pros and cons of something like this.

There are plenty out there with fair rates and lower fees.

A $45 application fee will apply.Income: Verified monthly income must be at least three times the rent (minimum $4,200 combined).Credit Score: A credit score of 650 or higher is required.Eviction History: No prior evictions are permitted.Should I lower it to a credit score of 600 and 2.5 times the rent? 

The equity is actually what you are paying for the property.In this case let's look at the numbers that count,...the current numbers.You have about $500k or more in equity, which is buying you a property that's worth about $700k (I went with the lower PV. 

It's gotta be stressful.  

Roth IRA contributions can be withdrawn tax-free, but earnings may be subject to income tax and penalties unless the account has been held for five years and you're 59½ or older.Instead, consider rolling over your IRA into a solo 401(k) if you're self-employed, allowing you to borrow up to $50,000 or 50% of the account balance, whichever is lower.

For a tenant who has only lived there for a year, the expectations for normal wear and tear are lower.

Here's a breakdown to consider:Cleveland: @Zeke Liston You're right, Cleveland often boasts lower purchase prices, making entry easier.