In other words, if there was a broken leg on your property that resulted in $250,000 in medical, lost wages, and pain & suffering, if there was gross negligence on your part, the total judgement could be $1.25 million, and worse, your insurance company could deny it.So what constitutes gross negligence? 

With that said, there have been more realistic seller expectations to the tune of significantly reduced purchase prices both pre and post executed agreements.

I'm older and need to build up my financial security knowing that I have a lot of future medical bills that are coming my way(multiple sclerosis).I look forward to chatting with you.

Highlight the cash flow and equity in your property when negotiating with lenders, as this reduces their perceived risk.Ultimately, you may need to reach out to multiple lenders or brokers who specialize in DSCR loans to find one willing to take a second position.

A good property manager can handle tenant issues and reduce your hands-on involvement.Building a Network: While you don’t currently have local connections, networking with other investors, attending real estate meetups, or joining online communities can provide valuable insights and opportunities.The next steps depend on your financing options, preferred markets, and whether you’re willing to manage tenants directly or prefer to stay hands-off.

You are one car breakdown or medical bill away from paying rent since you don't have an emergency savings.  

This strategy can help reduce utility expenses.Mid-term and short-term rentals can have utility costs up to 10% of gross income, including electricity, water, gas, cable, lawn care, and pest control.

Same as if it was bank-financed.However, make sure that you can in fact reduce your taxes by rental losses.

Here are some thoughts on your plan: Cost Savings: Doing the majority of the renovations yourself can significantly reduce costs.

But such things as I've stated above (and a whole lot more that would require I write a book) will greatly reduce the likelihood of a bad rental outcome.