So, he already had people & processes in place when he moved back to California and continued to DIY manage his rentals.- It's also interesting that he doesn't want to DIY manage anymore.

At the time, I was not going to say yes to that and I began the eviction process.

You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property. 

Some agents do this well, some without a license do it even better.Having a license to serve other clients first and help you conduct your own transactions second is how I would look at it.When analyzing deals I will prioritize sharing with investor clients first and only pursue it for myself if none of them want to purchase it.Happy to talk more as you pursue all of this!

Purchase price was $245k, rehab was $35k, and ARV is $330-350k.

Obviously, they, or the co they financed, purchased these brand names that all other major brand companies passed over.  

Good luck with the purchase!"

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).

Pros: the cabin will be able to house our entire family, easy process to refinance.

Experienced developers, could you tell me how the process/financing works?