I was very happy with the results, but I am sure the person doing the work makes a huge difference in finished product.

I would recommend asking the sellers to carry 20% and you finance 80%, essentially putting you at 0 down as that is what it sounds like you are trying to achieve. 

First Bank is also a good local bank that may have a product for you.

Otherwise, if you venture into an OOS market solely because of "cheap housing" but do not have the right team in place, you can essentially forget about successfully implementing your strategy.

Investment properties would need to be Conventional or some other non-QM loan product. 

If the Seller is essentially the bank, I worry about human error.

My plan was to refinance into a 30-year fixed rate product that repaid both existing loans and also take cash out of the property if possible to help fund my next RE investment.I have been going back and forth on whether to lock-in a 30-year mortgage (loans available up to a 75% LTV) or refinance into an ARM that would allow me to take additional money out of the property (loans available up to 80% LTV). 

When evaluating a new property, it is essential to understand how the seller has managed the property and how effective their practices have been.In many cases, a property will be marketed with offering materials assuming “market management fees.”

It’s essentially the same type of deal only two more tenants.

I originally worked with Jeff Chisum (tenpercentdown.com) but his team has now moved to Northpointe and they have lots of products too.