It messes up the entire loan because your max loan amount just decreased as well, so to make the loan work you don't need to put up 20%, you need to come with 30% to get the loan amount low enough to work with the rent constraints. 

You have NOT less than 200kish cash? 

As long as you are RENTING the property that is...and renting it with POSITIVE cash flow. 

Depending on the size of the down payment, we could take on a property that needs a bit of work.I have been using the BiggerPockets calculator to analyze deals though I'm having a hard time finding any that have positive cash flow in the first few years. 

Purchase price: $320,000 Cash invested: $55,000 Sale price: $320,000 Helped House hack for a cient of mine.

Maybe its better to pay the tax and put the remaining cash in a high interest yielding account.

Cash out refinance is an option as well, but it is not very appealing at this time (background here is $330k left on mortgage at 2.65% rate).  

I would like to express my gratitude to Jack and Russel, who have been gracious with their time and provided valuable guidance related to the DC Metro area.My Strategy:- Invest in rental properties below $400K with a Cash on Cash return of over 6% and an ROI of 7%- Consider flipping opportunities for properties costing more than $500K with an ROI of 7% or higher- Prefer to stay in the DC metro area but i understand that its a tough market for investors.

Purchase price: $84,100 Cash invested: $75,000 Sale price: $179,900

The amount of monthly income will depend on your goals and the rest of the deal design.