You can likely get favorable terms with that type of down, however, retail lending is going to rely heavily on the tenant itself.

Your mom did you a favor. 

She wants the highest price and best terms for her with the fewest possible contingencies on the offer, which she'll probably write.You want the lowest possible price on terms that are favorable to you and enough contingencies to allow you to back out and recover your deposits if your financing fails, home inspection isn't satisfactory or something else comes up in due diligence.Until you have a bunch of deals under your belt, you need an expert to guide you through the process and navigate the pitfalls. 

Assuming we get very favorable financing, it sounds like the plan would be to use all the $50k to get the best house we can in a high demand area, dont really worry about fixing it up, and then start renting it out as soon as possible?  

Texas, in general, is much more favorable for a LL. 

There is a lot of speculation going around about how our behaviors may change as a result of the global health crisis - that we will become an anxious, homebound society which favors working remotely, homeschooling its children and ordering everything online.

If you were looking to do a full cash out, a bridge loan might work in your favor since you won't have that prepayment penalty with a regular DSCR loan.  

So I dropped it as I wrote more favorable terms.Thoughts on the market?

This was a great building in a fantastic location, the lease terms were LL favorable, and the tenant base seemed strong.

We have made it work out in our favor; however, the first year we were not cashflowing from the property.