But even still, 31% cash on cash isn't bad.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

We just need to make sure the lender can do the loan without the tax map key   really depends on the lender, a direct lender who uses their own money may come down but a hard money company with 20% down on land even with other collateral may not want the deal.

If I don't have enough for a first position lean, is it even worth it getting second positon liens?

Things just require more ongoing expenses percentage wise out of state because you have to pay people to do everything for you and you will have a longer time building relationships with vendors even when getting decent referrals. 

The type of underlying loan (purchase vs cashout refi) will also affect seasoning requirements for the loan - several dscr lenders will require 6-12 months seasoning on notes that were originated as a cashout refi, even if the property meets ownership seasoning requirements.For fannie/freddie, youre looking at 12 months seasoning for a cashout refi.  

Survey - Get your own survey done ASAP even if you have seller's version - generally you'd need an ALTA survey for a commercial deal.

I didn't even think about the homestead exemption.

But applicant 2 did not provide any single residential address in application saying he travels 85% of time.

Even if they do have 20 years experience...how do you really know?