@Aaron Bard- plenty of  lenders  offer  DCSR loans ...contact a  few  for  quotes ...also - dont  pay  any  lenders  at the beginning of the process 

If it takes you two months two find a tenant willing to pay $1,700, then you'll still basically break even in the long run - the net to you is the same. 

As sellers realize that buyers cannot pay the same price for the same income stream as before due to the higher rates dampening overall buyer returns over that 6-month market cycle, sellers will eventually transact at lower prices, making it more apparent to sellers where the current market pricing is.

We are paying cash to him every week or so when he sends bill. 

When you draw from the equity, you are "borrowing" it from the bank and have to pay interest.If you borrow against the equity at 7% interest and then loan it out at 15% interest, you are earning a positive 8%. 

With regards to your example about plaster vs. drywall most insurance policies no longer will pay for the plaster whether you have a public adjuster or not. 

If you have a great-paying, long-term tenant, a small discount can actually save you money in the long run.

If I can pay it off in a 7 years I’m fine.

When you pay off a mortgage you pay the interest for all the years you didn't own the house?!?

I am the type of person that is normally looking to save a money to increase my investing so the thought of paying someone to do my taxes when we could do them ourselves didn't make sense.