We just saw few target properties go from active to contingent/pending status on MLS, it's hard to land on good cash-flow/turn-key property with low inventory nowadays.

And, that is in a nice neighborhood where you can get $1100/mo for a 1 bedroom.Here it is: $50,000 rental income less CapX and Operating Costs @30% (don't forget you own 16-20 appliances that nowadays last maybe 5 years and can't be repaired) . . . =$35000 for debt service and return on downpayment.

Nowadays, you need to work backwards:Start with your target ROIFigure out what the likely rent will beDeduct taxes, insurance, maintenance, vacancy, etc.Using what's left, determine what mortgage payment can be supported to reach your ROIFigure out, given current rates, what the P&I mortgage payment => mortgage amountAdd your 20-25% down paymentTHAT IS THE NUMBER YOU OFFER!

Simple, get the book: "Lend To Live".It's "the Bible" of the lending business and it's featured here on BPhttps://store.biggerpockets.com/products/lend-to-liveMike

I agree with this high level (Private Money = Individual, Hard Money = Company Non-Turnkey Product).I've been begging (mostly to no avail) for better clarity and definitions here for these to avoid confusion - BiggerPockets IMO has a HUGE opportunity to set and create the "gold standard" universal definitions of loan types with just a little initiative. 

Traditional banks tend to not have this product.

Hi Vincent, There are lenders that offer a DSCR product for an applicant that hasnt owned any real estate.How is your credit?

Quote from @Jason Hirko:Just to double check, because I know nothing about lending side, do you have any loan product for rehabbers where title insurance is not required?

Anyone have any products that wlll refi these smaller loans?

They are products of your brain trying to protect you from danger but in reality, there isn't any danger.