Yes, my banks require a 1.2 DSCR debt service coverage ratio, meaning they want to see rent 20% higher than the mortgage payment.

Example, buying a vacant lot from a neighbor and simply explaining that someone else will be on the contract in a few days is not easy.

But, yes, it sounds like simply looking at your numbers and determining whether or not you can absorb a salary is the time to consider it. 

I wouldn’t lower your credit score requirement or you’re going to end up needing to evict again and having turnover expenses.

While I usually think people have the best intentions, as someone working with you for the first time, it is truly hard not to have the thought cross my mind that the pro forma provided by Jennifer Lucero was inflated by Southern Impression Homes simply to make the sale. 

I wouldn’t worry about the higher dp because any investment property is going to require 20% down , like a DSCR  Let me know how that turns out!

It is much more difficult to sell an entire portfolio that has become uninsurable (which would require a cash only sale) or that insurance rates are so high that no one wants to buy. 

A SFH doesn’t require a 20% down payment; you’d have PMI to deal with, but as you probably know, it’s usually a manageable cost.

If they don't pay within the required timeframe, then I auction off the storage unit and wash my hands of it.

There have been a few people that have done Sub2’s that come on here bragging about it.. those that do come on here bragging about seem to be  helping someone promote their product/mentoring , have a product or mentoring they are trying to remote directly or indirectly themselves, or simply do not understand the landscape of Bigger Pockets site.