Also, in regards to negotiating a deal, I want my first offer to be low enough to allow room to negotiate up to my desired price, but I don't want to be so low as to cause offense, how much give is there when negotiating?

Just like no one advertises interest rates for low FICO scenarios, no one advertises rates that have been dinged for "small loan amount" either.

My area is certainly out the question especially because I'm more interested in cash flow than appreciation and the CAP rates here are relatively low.

The Book on Investing with No (and Low) Money Down is next on my reading list, so please don't just reiterate, however if you strongly feel that one form of getting money is better or worse than another, I will be more than happy to ready why.Cheers,Kelsey

Some of these properties are older and low priced. 

There is a lot of money, that is sitting around and earning a low interest rate, or nothing at all.  

Thanks for the thaughts, but actually It wasnt a low ball offer.  

Pros: low maintenance, low price tag, positive cashflowCons: rents capped at 700/mn, not going to bring in rock star tenants, not the most desirable areaThanks for the help!

There seems to be a lot of them and I guess I'm looking for one that is reliable, easy to work with and charges relatively low fees. 

My plan was to open an account with the bank in the next week, and perhaps approach them after the 3-6 month mark (seasoning period) and talk to them about refinancing into a long-term loan.