That might scare off the idea of having a higher percentage in the deal depending on how you present it. 

The smaller the loan, the higher the percentage is likely to be as both require the same amount of work.* **Documents preparation fee**: a charge for preparing key documents, including the refinance mortgage, note, and truth-in-lending statements.

Currently, a lot of companies are switching to percentage of current home value for hail damage deductible.

If I did that and sold the house with my license, do I still have to pay partial percentages to the buyer’s agent?

I was just wondering when evaluating single family homes for investment prospects, what percentage do you typically use for repairs and cap ex?

Expenses aren't some magical percentage.

In CA, the budget is set by the board, not the homeowners unless it is over a certain percentage. 

In your case, if you paid cash for the property, you would be able to refinance it using a percentage of the purchase price. 

@Mark Duhamel don't let "high" interest scare you when you can get a better percentage on your ROI.

Some will have a lower percentage of rents, but will make it up on fees, so if you have a more turns it may cost you more in the end than a flat 10% of rents.