Mine is a mentor at the start of the pandemic in Ft Lauderdale. 20% down. 3% I/O for 5 years on a million dollar home, now worth at least double.

DSCR only requires that the rents be equal to or greater than the PITI payment or the ITI payment if you go I/O interest only.You can use DSCR for a cash out refinance, Purchase and even a "Rate and term" which is when you want a lower rate or get out of a HML - Hard Money Loan, Balloon payment, Adjustable rate getting ready to expire/adjust (Recast).

Usually if the DSCR is tight we can structure an IO loan with a reduced PPP.

I could call it in but I won't, for the same reason I did this in the first place:  To help him.I am trying to help with a better solution.Quick research shows 10%+ for ITIN loans.I could always give him another 1 year loan at 7, 8 or 9% IO.

IO also is an option if concerned about monthly cash flow. 

Just want to be careful on which broker/lender you use because some of them have a prepayment requirement and try to stick you with a 3-5 year prepay.There is also a 40 year I/O interest only but its only fixed for the first (10) years.Make sure you know how many months reserves they require before you get to deep into paying for the appraisal and then find out the deal is cancelled in underwriting.

Now, if you do not cash flow, do not appreciate, and use 40YFRM I/O then you have asset with negative yield.

FL, NY, MD, CA, VA, NJ, Horizon Bank, Kalamazoo MIHughes Federal Credit UnionHuntington MI 75% LTV 5 yr IO product available.

Have you looked into DSCR Loans that are "Partial IO" ? 

For, example some PM will add (and pad) a booking charge that goes on top of their management fee.5.