He was basically Someone that was in their early 20s maybe a relative to someone in the coaching company.

You basically get yourself vacation homes that pay for themselves and then some.

Basically you are buying in to that person's relationships. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

((Basically a "Loft" layout, but enclosing half the upstairs -to be a more private upstairs bedroom with it's own toilet & sink))....

In order to get a response, and validity, they'll want you to actually provide the basic filing and proposal of what you seek to change at the property/building. 

Isn't that basically how the city makes all of it's money is tourism?

Same basic idea. 

Charlie called back today and told he is waiting for court hearing and will present his findings, basically the same as you shared above.Regards!

If you stick to American name brand units that are basic - no fancy sensors, doodads or anything else - W/Ds are surprisingly durable, even with renters.