You are also looking at your desired closing date and determining how much time the appraiser needs and anything else required prior to closing. 

@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.

., longer-term, amortized, require escrow, commonly modified b/c of prepayments, etc.)? 

Plus the added requirements around getting drawings and general contractor for even adding a tiny closet.

Do DSCR loans qualify if purchasing through 1031 w/debt-carry-forward requirements?

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

I remember with my SFRs in the beginning, it seemed liked anytime I spoke to my PM there was an issue that required more money out of pocket.

The small lot and setback requirements mean that it would have little to no value as a tear down.  

The problem many of us run into is being in New England, many of the markets are high cost, high appreciation markets that we either can't get pre qualified for, or even after moving out will struggle to cash flow.Another big constraint is that many of us have W-2 jobs in engineering that require some days in the office, and these types of higher paying jobs are primarily in major cities (most of us are in the Boston area).Lastly, a lot of us have significant others that may be less interested in living somewhere "random" because it makes sense as an investment.

This could save you money in the long run, but requires a bigger initial investment.To help you decide, consider these:What's your current budget?