As others have commented - DSCR Loans tend to be a great solution for people in your exact scenario - fed up and tired of giant hassle and paperwork for conventional or bank financing - not worth the often pretty small benefit in rate or terms.Check out this article I published last year on BiggerPockets on what to expect documentation wise for DSCR Loans - they have become a nice blend between solid underwriting and doc sets needed, but not too much (and not too little like notorious "no doc" loans)https://www.biggerpockets.com/blog/what-documents-do-you-nee...

I'm hoping to get suggestions from some of experienced people here.I welcome any tips and/or suggestions as well! 

I suggest working with @Jordan Moorhead and his team.

It will be a search until lending and rates start to ease up. 

Initially renting is likely cheaper, but when you purchase with a fixed rate loan most of your expenses are fixed cost.  

Need suggestions and advice.  

In my market, tax lien buyers make the majority of their money on interest rates / penalty fees they receive when someone redeems. 

We should see rate cuts in 2025, so there should be relief on the way.

That means you are getting $730 rent, and the market rate is probably $1,200 or more.

If I come across a flip where we could pull the majority of the money out, or keep only a reasonable amount in and the rents would cover the mortgage, I would consider it but I haven't really seen that here since the interest rates have been over 5%.