Does that amount sound reasonable for the area? 

Does that amount sound reasonable for the area? 

this would make for a nice amount of cash in hand....Do i need to pay all appraisals upfront?

I was considering paying the entire rent amount towards the mortgage anyway which would have me paid off in 7 years.

@Paul DeSilvaWouldn’t the lower appraisal impact the amount of the loan offered by the bank?

3) Is there a usual or standard amount/percentage for the Option Fee, rent credits, and any other fees/charges?

As an example:  $48,000 - $9,600 (20% Down payment) = $38,400 loan amount @ 5%APR/30 years = $406 P&I payment. 

Finished a massive remodel on my house and Bought another rental almost two years ago and did some things wrong (including having a tenant that was running a 3 million dollar real estate scam that got hooked on heroin when the feds caught him lol) but I've learned a ton from it and am ready to get things rolling and start buying properties. 

Quicken has a bad rap with investors because it advertises low rates and then has massive closing costs.

@Chris Jensen You should be able to get higher financing amounts, just sent you a PM because I know that there are better programs available for you.