For your scenario, a DSCR loan could work well if the property’s projected rental income can cover debt payments, but most DSCR lenders don't include renovation costs directly.

Quote from @Don Konipol:  This is why Brian Burke can go “large corporate” while I have to stay “small private”; he has the ability to MANAGE PEOPLE that I do not.  

It'll take some time but I see Anthem and all around the plant growing significantly over the coming years, small multifam and sfh's may be a good buy up around there.

I bought my first house when I was 24 and now have 5 relatively small properties in Michigan!

For example, many regional and national builders (like DR Horton, Lennar, Toll Brothers, etc.) showcase their homes on our website at wholesale pricing where you can get up to 10% discounts on homes, 10% cash back, significant rate buy-downs, etc. that you would not have access to if you were to buy from them directly.

Large apartment complexes flooded the market with inventory and are offering crazy incentives and amenities that crush the small landlord which can make finding a tenant challenging and often for less than market rent. 

I'd bring island out a little more. my advice is make sure all rooms are 110 sq ft minimum. some of these look super small. we build a very similar one in our market.

A) The $40K cash on hand was not including my emergency fund and merely represented what I wanted to stick to as a low ~10% DP or to be used for a small refresh/reno. 

When one machine goes down you start losing money in a small way. 

Is it realistic to ask for and expect to get at least 2 landlord references and 2 tenant references (current clients) if I am a " small time" landlord with one property, not multiple units?