@Phillip McCray I wouldn't walk in with less than an 800 score and half of the amount you are looking for ,in credit, in cash.

I'd rather buy a vacant duplex from a mom and pop owner that self-manages than an occupied one usually. 

I made an account less than an hour ago and I've already stumbled into a forum with other Marines!

@Cindy Nguyen I agree with the above responses, does not sound like a great house for rental purposes, a couple of other items you have to factor in is the cost of the refinance and your insurance premium would be higher for an investment property rather than an owner occupied home. 

In the numbers I have run, this provided better cash flow than an amortizing loan because the loan constant is smaller, and provides tax losses because the entire loan payment is deductible and you still get to depreciate the building. 

They can make sure you don't do anything dumb (illegal) and are cheaper than an agent.Still, if I were you, I would buy one or two houses WITH an agent first.

An attorney would be a better person to ask than an agent, However an agent may be able to speak from experience whether they have seen it be an issue or not.

Now, some banks still take longer than an investor will believe is reasonable to respond to an offer, but most of them have gotten it down to 2 weeks or less.

They will pay premiums in good season, much more than an investor attached to a spreadsheet (which I aim to be, myself). 

@Shawn Couch I agree with the others on this thread that upfront fees other than an appraisal is a red flag.You can start a thread in the forum "ask about a real estate company" to see if anyone else has done business with them.