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

Purchase price: $225,000 Cash invested: $40,000 Sale price: $375,000 Bought a large 4 bedroom pool home and flipped

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

Regardless, you might find the copy & paste info below helpful:)--------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

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).

I heard about bigger pockets from a friend of mine that has successfully built and rented multiple properties in our area. 

Assuming you purchased in your IRA for cash as most do, then there's nothing to deduct or depreciate because the income is non-taxable inside the IRA already.

My point is even with a significant discount on the purchase, it will not be easy to find someone that will be eager to purchase.  

They may have used one of their friend's companies or something shady like that.

Looking to purchase in NV with current paystubs because income is a bit tight with returns.