Look for cash-flow near the 1% rule, hold $10k in cash reserves, and expect 2-4% appreciation. 

Do I have reserves for the inevitable repairs?

Below are some general notes on DSCR loans:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available

He ended up at the UPS store (where all our mail goes) and they had to call the police.

Why buy a $900K home to only clear $500 a month when you can buy a $250K duplex that offers the same cash flow.The price to cash flow ratio has to make sense if you want to maximize your capital and spread your liquid reserves for down payments.

Aloha,For comparing Condos/HOA projects for investment purposes, the more critical info would be rating the most recent Reserve Study and/or Reserve Funding Plan for a specific project.

No formula can be accurate across the board because even “cookie cutter” properties next store to each other differ as to view, location to the street, topography of the land, lot size, physical condition of the property, past remodeling, quality of the mechanical systems, sunlight, utility bills, past use, etc.  

We use VA's in Philippines for our reservations team. 

You'd need to show enough funds to close (down payment + HOI + Title + Fees) and usually 3-6 months reserves. 

Then you probably need $100-$150k in reserves and another $50-$100k for turnover/upgrades if you plan to raise rents.