Yes, it is a commercial property and it normally is valued off cap rates,  but by checking sale comps, you have an idea of roughly what properties are trading at, and you can work backward. 

Here are some key recommendations to consider:1.Focus on Emerging Neighborhoods:Look for emerging neighborhoods in Orange County where property prices are still reasonable but expected to appreciate.2.Niche Markets:Consider niche markets like student housing or senior living, which can offer stable rental income.3.BRRRR Strategy:Use the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) to increase your property’s value and refinance to reinvest.4.Partnerships:Form partnerships with other investors to pool resources and share risks.

Credit (both score and trades) will be factors with DSCRs, as will experience and whether you own a primary.

It’s more like a trade name and DBA for me, and a way to manage my financials.And to answer your question, the landlord is the OWNER of the property.

There is a component of doing a cash-out refinance, but it seems the thought would just be trading one loan for another in that case for an extra ~$5k of leverage. 

While researching and evaluating homes, I had an idea for managing the down payment and emergencies for the first property.When I find a property with good cash flow, I could use a private money lender (PML) to cover the down payment and closing costs.

To cover for any emergencies I think 15-10% would be best.Thank you 

You could advise them to look into programs for emergency rental assistance.

There are a few tricks of the trade you need when you get specialized like that.

The simplest emergency puts them out and they’re late on rent again. lol.