Solid 2-4 unit properties are so scarce in these areas (~21 sales in last 12 mo between the 2), the market simply doesn't allow a buyer with a low downpayment to enjoy any "income" out of the gate.

I’d like to have someone review the property and help identify specific areas that may need to be brought up to standard before I proceed with landlord registration for the program.Additionally, I’d welcome any advice, suggestions, or insights from those with experience in this process.

I wouldn't let anyone tell you not to do it in 2024 unless you simply don't want to. 

(no waiting period to simply refi what is owed) DSCR programs are not purchased by Fannie/Freddie so they can set their own rules and some have a waiting period as short as 3 months. 

This allows us to underwrite the entire market simultaneously, identifying the top investments every day.

I would have talked to them BEFORE cancelling the painter and given them the option of which way to go, but since you already cancelled the painter I would simply charge them prorated rent for the 5 days until the painting is complete and deduct that from their deposit.

In this realm you might be overpaying for section 8 housing based on returns as a good example - so just be mindful of prices and comps once you identify target areas. 

I simply take a picture, text it to the tenant and they add the payment to their next month’s rent payment.

How do you identify the sleeper deals on-market?

Not only would you benefit from having a partner's input on the deal, but you would also have an experienced individual to work alongside with as you navigate the project.It's also important to make sure you have identified your "team" ie; contractors / realtors / lenders / insurance agents / title company / etc.