We are based in NYC but are considering (as of now) locations outside of NY but within a 300 mile radius. 

Hi @Robert Spiegel, My answer to this would truly be based on your Lease Agreement. 1.

Don,Just curious why you think a company based in Las Vegas would be a warning sign ??? 

For those with coverage, whether an occurance of it is covered would be based on how it occured and did/should you have knowledge about the potential for mold.

If that's the case, you should be able to rate/term refinance at ~75% LTV with a DSCR loan, and with some interest-only basis, your payment will go to ~$850 (based on ROUGH pricing TODAY).

I have used this method in the past and 90% of time has worked, perhaps I was just lucky, I'm not an attorney but based my thoughts on common sense and what I have read. 

Based on your first fix/flip, it sounds as if you don't have any issues doing moderate rehab.

I find that regardless of the bank you go to, they often follow the same type of rules and can be stricter; however, some might favour you here or there based on the relationship you would have created with them.- My advice; however, is to work with a good mortgage broker as they often have access to more lenders (B or C lenders) that might be more flexible than the 5 big banks.- Finally where to buy: in general, ON, BC are expensive while AB, QC follows and other provinces, such NB, NS, PEI are much much more affordable.

Most hard money lenders base their terms on the deal’s equity and your experience, so with a solid flip track record like yours, you should be able to find better leverage — especially if the deal has a strong ARV.What's the ARV on the property?

They're highly popular for turnkey rental properties because qualification is primarily based on the income generated by the property itself rather than the borrower.