@Russell Brazil yes I have won one specific performance suit.. but vastly different set of circumstances.the seller was losing the property and needed 40k to cure the tax ( property tax) default or they were going to lose it .In Oregon its the only state I personally know were property lost for non payment of property tax's escheats to the state.. no public auction no overage no right of redemption other than the county commissioners can over turn it down the road.. that all said there was no time to do a formal escrow so I did a Purchase and sale contract.. gave the seller 5k of non refundable EM and handed it to her.. 

See #1.3 - They CAN give you an Option Consideration (100% of the price of the option) that is at least equal to what you used (you will have already closed on your purchase of the house) for the DP & closing costs.4 - If the above #1-3 are followed, the numbers read like this:   a - Your cost(s) are:         1 -  the DP and closing costs and,         2 -  the Mortgage Payments and Tax/insur per month   b - Your tenant/buyer (your income) gives you the Option Consideration and the rent, and           pays for the rest of the monthly expenses (i.e...utilities, etc...)5 - You profits are:   a - The spread between your DP/Closing and the Option Consideration   b - The spread between your monthly costs, and your monthly incomeJust don't mix the lease agreement with the Option to Buy agreement...in any way. 

Your monthly mtg payment includes principle and interest, the principle reducing your loan balance.  

I have no experience with financing larger apartment buildings and I’m wondering about down payments.

As a recent graduate there be programs in MI that will help with your down payment, there may also be programs in Detroit that can help as well if you live within the City limits.

That's why you have $9 monthly payment  

In Michigan, you HAVE to provide at more than one means of rent payment.

The 50% rule is related to expenses, which does not include debt service, so your down payment won't affect that.If you're not planning to live in the property, you will have to put down at least 20-25%.

And my wife for the support.The best part of it all is we just found out we’re having a baby girl early next year and we added $100 automated principal payment each month to our 30yr fixed mortgage so that it amortizes when she turns 18 as @brandonturner suggests.I’m so grateful for bIggerpockets and the community it’s formed to inspire and support me through this journey.Next year I hope to do my first BRRR!

Originally we borrowed $240k from my Grandma and then repaid her (with some interest payments) 9 months later by doing a refi.