You could still potentially qualify for FHA 3.5% down, but if you are looking for true Fannie/Freddie financing then those are the guidelines they set. 

This is very true.

Long terms rentals will have repairs from time to time, but if it is a true emergency, you are going to be calling someone (eg plumber) to come in and fix something, so that is no different than your own home (minus the clean up). 

I am sure this is true for many people who invest.

I thought I would have heard about this if that was true.

I largely agree with this and would say it's usually true but there are exceptions when it makes sense to do a spot repair.

Trent, I'd love to understand how this is true.  

Be sure you are using a non Wholesale lender for the true DSCR experience.Cheers!

Spend $200 and sit down with a real estate attorney and get the scoop first hand on what is allowed and what isn't.This is true for California, Oregon and Washington.

Agreed - its generally a bit more challenging if its true "student housing" as rent-by-the-room is generally prohibited for DSCR.