Simple answer - avoid the mega banks.

Mitchell,I am going to give you some advice to help you avoid getting to far into the DSCR process and losing money. 

The more you know, the easier it will be to spot a good deal and avoid overpaying.- Build a Strong Buyers List EarlyA solid buyers list is your safety net.

We help our clients:1) Find a fixer-upper to buy2) We get bids3) Negotiate a Scope Of Work with the owner using "Maintain to the Neighborhood" to avoid over-improving, but understanding we will have to pass city Rental Inspection to avoid being a slumlord.4) Provide multiple jobsite videos to show progress and document WHAT was done and the QUALITY.5) Handle passing city Rental Inspection6) Find a tenant with a Replacement Guarantee per Class7) Assist with refinance, so client can repeatSo, why you looking OOS again?

Making the right decision upfront is important to avoid the challenges of switching management or service providers down the line.

I'm concerned that I'd buy a place in the winter, then it would either take a long time to find tenants or I would have to charge significantly less in rent to avoid a long vacancy.

Consider off-market sales to avoid public listings and minimize tenant disruption, using discreet marketing or a wholesale strategy.

Just fixing a property over 2 years, then selling it and avoiding capital gains tax, then repeating.

Once that phase is complete, I’d transition back into long-term holds.As for the cash-out refi, without at least doubling the rent, I’d be in a net-negative position each month, which doesn’t seem like a worthwhile trade-off.On the tenant side, I agree with your point about the business aspect—it’s something I’m working on coming to terms with.

Don't hire an agent if youre trying to avoid agent costs.