Eliminate debt, establish a budget, and save.

Daniel attempted to get on the phone with me to “save” the deal and defend all of their processes as well.

But saving someone else from this happening would be vindication.  

A good manager will handle everything from marketing to maintenance and tenant screening, saving you time and stress.Vendors and LandscapingBuilding a team of dependable vendors—like landscaping companies, contractors, and insurance agents—is critical.

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).

I am a big fan of small multifamily deals in this market. 2-4 units to maximize cash flow. 

Quote from @Terry Ouimet: Used a broker to help me find Olympus for FL str, tweaked some things saved $100/mo.

In the beginning I want to manage by myself to save cost.

To be real - If I didnt have the reserves I would've likely painted and done bare min to get it re rented until I saved up for next vacancy

It helps to ensure everyone is on the same page and can save you headaches if issues arise.If you need further guidance on structuring these points or tailoring them for your project, feel free to reach out—I’d be happy to help you get started!