Each jurisdiction is different, but typically include a substantial deposit due same day up to full price deposited that day. 

Most out-of-state investors looking at Detroit are typically focused on cash flow, which means they're usually targeting C or C+ neighborhoods.

No - absolute max for DSCR is 85% LTV and that is extremely rare and typically not workable in this rate environment anyways.Standard/common max is 80% (acquisition and rate-term refinances) and 75% Cash-Out Refis

Becoming a real estate agent is a good idea to gain experience, but you could also explore property management, wholesaling, or working with an investor to build your network. 

. - Production: Typically STR production on the Oregon Coast is +/- 10% of valuation.

One thing I am curious of - typically many of the hard money lenders will charge a 1-3 year pre-payment penalty in these types of scenarios unless your client paid points to not have that pre-payment penalty.

Unlike conventional loans that typically require a 12 month seasoning period, DSCR loans have no such requirement, making it much easier for investors to scale their portfolios.I’ve included an article below that outlines how DSCR loans can be utilized in BRRRR strategies.Also, I noticed you’re based in Florida, I’m in Tampa.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Those horror stories are typically from amateur landlords that don't know how to screen tenants.

Depending on comfort and cash, it might be a viable option as you can build equity and then sell without having capital gains, assuming it's your primary residence and you've lived there for 2 years.