Hi Chris, As financing costs will be a big factor in determining profitability, you should be asking HMLs for proposals to fund. 

@Arlinda RexhoWhen considering a 32-64 unit multifamily property in Texas, focus on strong locations with population growth, proximity to amenities, and low crime rates.

It sounds like you are investigating the DSCR route due to lack of investment funds. 

I have 7 MTR and my income is 1.7x my long-term rates ($1200 vs $2000), but that is very specific to my properties, my location, my business model, etc. 

If leveraging equity feels too risky, you might consider using a portion of the equity to fund your next property while keeping reserves intact.

You can find flat rate listing agents as well for probably $1000 offer buyers agent $2K so they will take the time to show it. 

The only issue is the interest rate is 7.125%.

In your case, changing the property from a rental to your primary residence constitutes a change in use.The depreciation recapture will be calculated based on the fair market value of the building at the time of conversion, not including the land value.Since you're tearing down the existing structure, the entire amount of depreciation taken over the past two years will likely be recaptured, as the building's value at conversion will effectively be zero.The recaptured amount will be taxed as ordinary income, up to a maximum rate of 25% for residential rental property (Section 1250 property).

PMs should have the widest network of contractors, knowing the good from the bad, better pricing, insights into rental rates/ condition of rentals to not over develop your unit.

Where in a standard market rate rental a stain like that could be handled when you get around to it and the rent would still be due.