Remote CPAs are always great, it allows you to have confidence that you can trade information with them easily.  

When the mortgage is initially signed, it will usually contain a provision called a power of sale clause, which upon default allows an attorney to foreclose on the property in order to satisfy the underlying defaulted loan, which is sometimes referred to as a note.

Property $40,0000 + $3,000 Rehab ($850 Closing) - Rent conservative $700/mo - optimistic $750/mo   (its a 3/1 I have a 2/1 close that I rent for $700 right now)Commercial loan from portfolio lender that will finance upto 85% of broker price option of $50,000 (terms 25yr at 4.35%) as long as DSCR is over 1.25 its over so no issue.Would you ratherA. put 20% down and finance $32,000 ($11,850 in) with $244/mo cashflow on $700  $700/mo- $175 mort- $75 tax- $56 prop man (8%) (I pay 6% because every property over 4 with them drops from 8% to 6%)- $45 ins- $70 repair (10%)- $35 vac (5%) - property management is local and averages 2-3%= $244 ($174 if you figure 10% capex, but some people only do 5% repair then, which would be $209 cash flow)$2,928/$11,850 = 24% cash on cashorB. put 0% down finance $40,000 ($3,850 in) with $200/mo cashflow on $700$700/mo- $219 mortgage- $75 tax- $56 property management (8%) (I pay 6% because every property over 4 with them drops from 8% to 6%) - $45 ins- $70 repair (10%)- $35 vac (5%) - property management is local and averages 2-3% usually 20-30 people per open house I rented my last house in 4 days= $200 ($130 if you figure 10% capex, but some people only do 5% repair then, which would be $165 cash flow)$2,400/$3,850 = 68% cash on cashI live 25 minutes away,  I like the cashflow higher but I have a good W2 job that allows me to invest $2,000 a month of my own income into real estate plus cashflow from properties is all re-invested. 

Complexities aside, allowing an agent to represent you as well as the other side is like having an attorney represent both husband and wife in a divorce.  

Due to our limited funds, we want to figure out how to get a great deal, with as little of our cash in the game as possible, to allow a "safety net" of sorts.

In my park lease I don't allow the tenants to own other homes.  

This would allow us to work on the plans & permits for the new construction so that we can basically follow her out with an excavator to immediately start the demo - to make up for some of that long holding time. 

-Are the rents at the maximum allowable levels?  

I do remote REI, I do BRRR and all my houses are on mortgages which allowed my to pull out all my cash and additional created equity.

This allows you to evaluate and add contingency costs so you have room for anything that may happen like added costs, length of costs (holding costs).