I've recently finished a Master's degree and have no job which means that I have time to dedicate to REI.

Avoid anything with condo association fees or homeowner association fees as they DECREASE CASH FLOW with no real contribution to the bottom line.Lastly, since you are new, when you do get a property DO NOT HIRE A PROPERTY MANAGER.  

The property is in WI so 80-90 degree humid days for about 2 months out of the year, another 2 months are warm/hot but not as bad. 

I would highly recommend NARPM (National Association of Residential Property Managers) to learn about Property Management.

Maybe stick to condo's in small associations 8-10 units that are self-managed or don't have any rental restrictions. 

Hi, my name is Shad Lorenz and I am a 12 year Army Veteran, 10 year small business owner with a Bachelor’s degree in photography looking to start my journey in Real Estate Investing with my wife Beth Lorenz. 

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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

And to some degree, I can't really blame them since they know only what they have seen and been told, not understanding that the life that they have is not typical in most of the world and there are reasons for that.

Ive only handled SFH and small multi-family rehabs, but never dealt with anything on this scale, and have no idea about the associated costs.

Closing costs vary but are usually at least a few grand in addition to the origination fee which tends to vary between 1-3% of the loan amount.We have a simple yet detailed fix and flip calculator (cash flow tool) that clearly accounts for all of the relevant costs and gives you a sense of net profit, ROI and total cost associated with each project.