It's difficult here to differentiate between giving good advice and advocating mentorship programs, workshops or courses to advance your one on one activity and thus speed up the learning curve and timeline to reaching and stretching your goals.I personally have gone the journey from DIY wholesaling, flipping, seller-financing SFR and international Short Term Vacation Rental management and then arrived at commercial multifamily and self-storage real estate syndication due to the fact that it offers the maximum scalability, economy of numbers and at some point truly leads to passive, residual income and thus to time freedom and choice.Send me a colleague request to kick the tires, set up a call and get a few burning questions answered in real time, one on one. 

This later part is what makes it hard for you, if you had a big down payment then you could use some of that to make up the difference, but if your at minimum it can be hard to find that extra money. 

But I have heard that rarely happens as long as you have a good payment history.From a tax perspective (again, not the expert here and could be wrong)....I believe that you will need to file a separate return for your LLC, even if you are a single-member LLC. 

Are most PM making mortgage payments for the owner; what percentage of owners have you making this payment?

After that save like crazy so that when the time comes you can afford a down payment, you might look into a FHA house hack for a first purchase.

Initial Escrow Payment at Closing = $2304.12TOTAL = $8995.70Doesn't this seem astronomically high to you?

We have done a number of Wrap mortgages and we like using seller financing this way a lot.Banks executing DOS clause for performing notes is EXTREMELY rare in our experience.As long as their payments come in every month and the home remains insured, it would be really surprising to see the bank call the note.   

(if its a previous landlord how much rent does the tenant pay--> sometimes this may differ than what the tenant has written on their application, if its not the same amount the "landlord" reference may not even be the landlord, in the last 6 months how did you receive any payments that included a late payment)

Without having to go to the Bank and getting Owner Financing would be a way to get a low down payment or having to get  "House Hacking" insured loan and having to live there for usually about 12 months.Showing the Owner on paper how that kind of loan how much more he could make and how spreading out their income could reduce their tax liability. 

I believe we are late in the real estate cycle and there might be a drop in housing prices (which I am ok with), and in such a scenario I would like the rental income to be able to at least cover the mortgage payments and would be ok with paying for other costs out of pocket.