Perhaps the numbers will turn out to be much better, but I'd be careful to not let your personal love for the area lure you into an investment that you might someday loathe due to ill performance coupled with management headaches.

Review Borrower profile. 

As lenders, well issue a prequal/preapproval letter if we've analyzed your income, assets (bank and brokerage statements to establish that you have the liquidity to afford the down payment, closing costs, and reserves), review credit of the guarantors, review the relevant experience to ensure that we're not throwing our money away on newbies that are wandering around in the dark, and have put together a reasonable plan of attack for the project.

The system is what's really broken:1) S8 should have a time limit - get free housing to get your life in order and move on.2) S8 should have strong requirements for taking care of the home taxpayers are paying the rent for. --- We haven't seen a S8 inspection report in over a decade that required a tenant to fix damages they obviously caused.

Secondly all DSCR should allow you to close in the LLC without a rate hit.If you are going to take out any cash through a refinance in less than 1-2 years be careful of how many years they try and hit you with the Pre-Payment penalty. 

So who cares if I own or not?

Be careful will with AAs.

They take weeks reviewing things and won't call you or tell you when they have reviewed things so you are constantly calling and then waiting for them to find your file.

I don't care what anyone online says if you live there and have tenants at your home it will be a job. 

A reliable tenant stays for many years, pays the rent on schedule, and takes good care of the property.Reliable tenants are the exception, not the norm.