I'm really kicking myself on being obsessed with the cashout and blinded by all of the other factors that come with the deal.

Closing real estate deals in any economy requires flexibility, adaptability, and a variety of strategic approaches. Here are several key strategies to help close deals, regardless of market conditions:
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There is another factor that is your family so understand what is the impact there.

DSCR lenders tend to go with 1.0 DSCR from what I've seen (and don't even factor in maintenance, management, vacancy, etc. for some reason), but they also tend to be more expensive. 

However, the money needed to start real estate investing depends on several factors.

A lot to factor if the numbers actually make sense to do it.

The formula calculates the maximum amount to pay for a given property once two key factors—the after-repair value (ARV) and estimated repair costs (ERC)—are considered.The 70% Rule Further ExplainedThe 70% rule states that real estate investors shouldn’t pay more than 70% of the ARV minus the repairs needed.

If location isn't a big factor (does not seem to be based on original post) I would highly recommend looking into building a barndonium or shouse in an an area where you can get a tract of land fairly inexpensive and has little zoning regs and requirements.

@Chris SeveneyI agree the sponsor is the most important factor, but passive investors can not ignore what they are trying to accomplish, and have a deep understanding of the business.The trinity!

This will assist investors in making informed decisions and to potentially identify lucrative investment opportunities.More Accurate Property Valuations: Property values are assessed more accurately when utilizing AI tools as they are able to take into account multiple factors including market conditions, location and the features of a property.