There’s not much else it can be unless it’s in really bad physical condition, which the PM would also notice right away. 

The problem comes from an investor's conditioning to never pay contractors upfront, or they will not finish the job.

Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.

Obviously you will also want to walk all of the units physically during your due diligence period to see the condition of the apartments inside.

If it didn’t take a long time to generate that cash(1 year or less), I would consider doing syndication and wait and see how it went, while continuing to educate myself on local market conditions for an investment property.

What condition is the house in, what is the rent, how many bedrooms and bathrooms, how is the school system, how safe is the neighborhood, etc. 

There was a pre-move out inspection where everything was determined to be in good condition and there were no deductions that would be made.

It is important to keep in mind that DSCR is just one factor that lenders consider when evaluating a loan application, and other factors such as property condition, location, and market conditions also play a role.It is also a good idea to consult with a financial advisor or loan officer to get a better understanding of the loan requirements and to get an idea of how your investment property will be evaluated by lenders.Feel free to reach out if you need more feedback, happy to help.

Columbus has ranked on the top 10 markets that outline that for the past 6 months at least. the best place to buy new builds is in higher priceopint markets but where the costs haven't gotten out of control. besides that I'd recommend working with a vertically integrated land development, real estate development, and new construction firm or design build firm who also understands market conditions. 

That came to an end eventually too and we started to focus on distressed condition properties (mold, foundation issues).