If we do get 6% credit, the idea as of now is to pay off all closing costs (estimating roughly $12,000) then use about $20,000 to buy rate down to around 5.85%  and then use remaining few grand to either prepay PMI or possibly a home warranty - what are your thoughts on that?

It was on grand scale. 

Markets like Indianapolis, Kansas City, Cleveland, and parts of Michigan (like Grand Rapids or Lansing) have been strong for BRRRR in recent years due to affordable entry points and decent rent-to-price ratios.

In 2008, that was on a grand scale.

But the investing landscape has changed and I think in 2025 it is even more difficult to "buy" RE cashflow, that's why I am suggesting to buy or build a business, even if it's just a couple grand from a TikTok shop.. that's equivalent to 10 doors

I'm based on the west side of the Twin Cities and am investing on MN's North Shore (Duluth, Two Harbors, Grand Marais) The house were under contract for is a long-term duplex. 

All that matters is the grand total.

They want to hit a grand slam today and to be driving a Lambo next month.  

The whole grand strand seems to be thriving, lots of new construction going up.

i keep seeing:1. buy out of state rental in a solid neighborhood with long-term potential (just as you are recommending) but then...2. have one rough tenant turn that costs a couple grand, and3. give up on real estate investing, and turn on everyone involved in the transaction for not guaranteeing that sweet cash flow in month 1 lol, yea there is a decent chunk of investors who get really butthurt by that one bad unit turn and just give up.