Proper underwriting - this includes an appraisal, loan app and full underwriting to comply with CFPB regulations.2.

Education is very important, so I’m taking a self taught course to get my permit tech certificate.

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. 

I had specifically asked for numbers including mortgage payments and they emailed to me.

Co-living isn’t just an alternative to traditional rentals—it’s a way to maximize cash flow, lower risk, and attract investors.To make this post more insightful, I’ve included graphs and visuals that break down the key benefits of co-living and why serious investors should be paying attention.1.

That should really be the deciding factor...is it necessary and a large enough project to include the permit process?

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).

What I learned from the rental was the due diligence importance of finding the right tenants.

Loss of Use / Loss of Rents: Normally, there is a 20% included limit.

How much do they charge and what's included?