This was my first true investment purchase.

@Bjorn Ahlblad true.

@Michael Kim, That's true in the context of all else staying the same.

The difference in price between the existing mortgage and the purchase amount is made up by the seller carrying a subordinate lien or a private party carrying a second lien, or a partner being given a percentage ownership for providing the down payment.The second way to accomplish a true nothing down deal is to find a private lender that will lend 50-60% LTV and does not require the borrower to contribute capital, with the difference being made up by the seller carrying subordinate financing.Finally, a nothing down deal can be accomplished if the seller is willing to carrying a note for the full purchase price.

That's true for typical recourse debt.But for the types of debt associated with larger deals, it's a bit more complex.

However, my perspective is limited, so I thought it'd be fun to start a conversation comparing the tried and true with the new kid on the block in this changing world. 

He has offered significantly higher rent than market rate but I'm concerned as it seems almost too good to be true.

Thanks @KellyBaird I own the property though which changes the tax calculus, but the rest of your post holds true. 

They only granted us 10 true STR stays for the 1st year.

A common misconception is that one needs to recoup 100% of their cash invested in order to BRRRR - that isn't true.