I think the DSCR route would be my option due to high DRI. 

Not saying don't look for data, but I am saying, it's more in the comparison of successful properties, not in the cold dry numbers.

Resident went into crawl space and says it is dry and does not see mold.

Seems excessive to me.

Just know no matter how much planning you do, you will be making endless runs back and forth, almost every day, and it is what it is my friend- BUY MORE THAN YOU NEED and then return all the excess all at once using the card(s) you bought it on at the end of the rehab.

Regardless they are on the hook for the lease its pretty cut and dry. 

Seems cut and dry, right?

I was looking at those two formulas and thinking to myself this seems a bit excessive for rental property investing, thanks @Bjorn Ahlblad! 

You can get an Excess or Umbrella policy that provides additional coverage. 

Buying out of state is fine you will only have an issue if you go with a lender with overlays or requires landlord seasoning.They may question your ability to manage the property if you are out of state in terms of excessive mileage away.