I want to get out off Trucking  and invest what I saved up. 

Save some money and then a year after living in the property you can purchase another property with (3.5-5%) down and put the last one for rent.

I am in the pay off all debts (to increase my debt to income ratio) phase while also trying to save up money to start. 

Rate & term is alot easier to do if your in a hurry and can save you on hard money interest payments (assuming you have used hard money) The downside is your money will be tied up but you can also refi again later with a cash out or get a HELOC.. this can be tricky too and its a different topic.

 @Tony Pellettieri, thanks for the info. 

@Matt Waggoner depends on the target pool of tenants your properties will attract.First, what you wrote doesn't violate Fair Housing, so you're legally fine (check with an attorney though).OPINIONOur company is in its 24th year and some of your requirements wouldn't work for us.1) Many 600 credit score tenants won't be able to find the info for 5 years of landlords.

Our analysis is a template you can follow for any city, but doubt you'll find this much info for any other market in the US.

I am saving up for a down payment for my first rental property and I’m looking to do seller financing.

Just like your saved after- tax money in your bank is not taxed each year. 

Looked for CC info to put in new CC info.