Dialing in first property

[Giancarlo Valverde Barriga]

Hello BP, excited to finally be dialing in my first property. I am looking at Euclid, OH, and have found 4-5 properties that I think work really well for me. I have to go the DSCR route for financing so I have to submit one property to them. I have a few questions if anyone can answer. This is my first investment, so many things are still confusing despite reading books and researching.

- properties I'm looking at are about 100K, CF/month is averaging about 250-350 after running the numbers very conservatively

- CoCROI are about 10-15% and ROI, including equity and such, is about 20-30%. Feeling confident about these properties.

1. If I submit the property to DSCR loan but the property turns down an offer, do I have to reapply for a new one for a different property and get a new preapproval, or let my lender know and they just update it?

2. After showing interest in the property, how much of a window do I have before I have to sign the contract? I need to get a contractor, inspector, etc and will want to have them lined up before signing to ensure I am fully aware of the estimates and can negotiate.

3. I am an investor from CA but can only get my feet in the water in this general area because of funds, so I am looking for a reliable and competent PM in the area that someone may have experience with and able to reference!

Any other guidance is welcome, Thank you all!