I strongly recommend an American Express product as soon as you can get one.  

Where as the bank you are talking to only has their rates and their products.  

@Nick VanDer Sluis I have message you where you can find list of lenders for this product.

Turnkey- I personally don't like the turnkey model, mainly due to the fact that most products sold via turnkey are in C/D areas, thus making you totally dependable in your Property management company 5.

He's the king of creative financing.I will tell you that there are some really great hard money products on the market now and many people are able to buy distressed properties for pennies on the dollar, renovate them and then either flip them for profit or get into long term financing using hard money for the acquisition and renovation funding.Usually 10% interest only and 3-4 points are where the costs fall (not to mention draw fees and underwriting/doc prep fees).Stephanie

If the property is far from you, they will prefer you have a local property management company with a track record.Lots of local banks will not be happy about financing a property in a manner that gives you all of your cash back. 6 months seasoning gets you into a loan product where you can get a favorable appraisal.

Conventional can still be a great option if finding the right lender, but we've found different lenders offering quite different products currently. 

There are products that can finance the acquisition and rehab, but you'll probably have to refi after completion.Are you familiar with the BRRR model? 

Investors can buy value add retail but it is not passive in the beginning at all until stabilized depending on the product type.

By implementing energy-efficient appliances and lighting, using environmentally-friendly cleaning products, and promoting recycling and composting, you can show your tenants that you care about the environment and their health.