If your buying a building that’s $500k, you need to be getting at least $5k a month if not more or it’s not worth looking at in my opinion unless there is some other revenue source (ability to add bedrooms or units, air bnb) or you can increase rents substantially.

It really just limits your exit options and decreases your ability to leverage.

How would this impact my ability to get my next property? 

This ended in a bill that was defeated after the NAR lobbied their allies in Congress.

YOu as the buyer showing proof of your ability to pay (through actual bank statements with cash and/or closed sale transaction proof showing you are a proven all cash buyer that closes will instill confidence in the wholesaler and allow them to perhaps make less on the deal but can do more deals knowing they have a quality buyer in hand is a win win.

I have a custody situation for my 11 yr old that limits my ability to move too far away.

The deal highlighted our ability to identify profitable opportunities and execute them efficiently, delivering a substantial return on investment.

Minus 40k rehab, leaves 200k toward the purchase which means you are 40k out of pocket.Now the job is over and you go to refinance and the DSCR will be based on the rent which is 2100 which is less than that 1% rule and will limit your cashout ability. 

Yes, I did not get the ability to depreciate it, but I don't have to ever worry about depreciation recapture either.Currently, my IRA is netting rental income of about $3500 a month and the net income will continue tax free for as long as I own it.

This project showcased our ability to add significant value through strategic improvements, resulting in a profitable sale for our partnership.