Do you need license like you need to become a conventional loan broker aka originator (I happen to be one, licensed in NY and NJ).

One way to do this is to work with builders to move their inventory of New Construction Investment property.

That means, no conventional loans, bank loans, DSCR loans.  

Conventional 20% down.

I have 9 loans currently so looking to do a conventional loan on my next depending on that process.

For this reason, I would take inventory of the local banks within your target markets that offer financing options that best serve your real estate needs (again, usually the smaller local banks), and build depository relationships with them.

If not, I'm guessing it would be treated as a traditional rental loan, either conventional or DSCR, using market rents rather than the rent in the lease agreement.

I live in New York and majority of the inventory on Long Island is too expensive for even renting. 

LTRs with long term conventional financing and standard management aren't really cash flowing anywhere right now. sure, there are lower cost markets that look better on paper, but there are costs associated with those supposedly cheap markets as well - deferred maintenance, more challenging tenant base, higher cost turnovers as a percentage of the rent.2. i wouldn't pick a random market thousands of miles away based solely on statistics or numbers. 

I’ll still try to answer the question: Pros of Kansas City for buy and hold small multifamily rentals:  Hybrid market so you get some cash flow and some appreciation (con if you want only cash flow or only want appreciation) Inventory of 2, 4, and 5-50 MF buildings (not true of a lot of markets that only have SFH and very large complexes 100+ units)Relatively low property taxes, although check for the city and state you are in (e.g.