Hi I own a rental apartment in an HOA complex that is rented out to a person who is part of state funded DDS program.

Your big box banks have very limited programs for you to choose from and bad rates and surprise points.

I'm more experienced as have been in multiple RE sales (with agents and directly with owners too) over my life and been an LTR owner for 15 years and just want to do STR at this point, but if this program is legit then I would be the one searching for houses while he did the calls.

A good program we use is LEAP.

The truth is most methods work - cold call, direct mail, referral programs, driving for dollars, etc.

A DSCR loan is one of them, but with the rent only being $700, chances are you'd need to go with a no ratio program to make the numbers work.

For whatever it is worth, we rent our STR by the month during the non-tourist season and we have a walk-through video on YouTube.

Listen to his podcast and you will get a feel for the program. 

See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy+tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.

They way full doc programs work is they use this worksheet: https://content.enactmi.com/documents/calculators/Form1038.C...This approach will allow you to add back the paper loss of depreciation, and add back mortgage interest, property taxes, insurance and any HOA dues.