I was hoping I could get some more general information on how this whole process goes and to inform myself on the pros and cons given im a newbie and don’t know much.

Notice, I am NOT stating that the transaction needs to disclosed to the lender; just that a lender should not be given false information.  

As an agent I often times refer to emotional appeal as a large factor on what drives purchase price. 

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).

My fiancé and I just recently purchased our second rental property and have listed it on Furnished find.

I purchased a rental unit and did some private funding in 2016, and I will probably expand this business by doing more deals.

Unless y'all have an incredible W2 to help with the purchase, you will not find something that "works" in the Triangle and in a good/safe location.

Hey Patrick - we are targeting more sophisticated investors who will appreciate our approach to help them drive NOI margin and make informed buy/sell decisions.  

@Mitch Davidson I purchased a property recently and closing in May.

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.