Long story short, cosmetically ugly and out of style is fine, not functioning isn't and WOOD ROT is a major no/no with FHA and VA appraisers.

If they’re paying 85% cash, like from a 1031 exchange you have almost zero risk and 6% is fine.

If caught, best case scenario is you'd get a cease and desist letter from the state regulator and probably fined. 0% chance this is worth it.

Something to consider for the average investor that is curious about DSCR, there are plenty of fine print items. 

You deem it wrong from your POV - which is fine, and part of what makes the country great that we can have a difference of opinions and debate the merits of various opinions/ideas.I’ve experienced it both ways - as a landlord I can get more money in my pocket, always welcome - but I’m also not buying something if it’s not cash flowing.  

Those are all fine if you know what you are doing.

One attorney told me I did not need a PPM for the business model and the state disagreed.. paid a small fine 5k created the type of PPM they wanted and that was the end of it Plus I did not get sued I got a cease and desist big difference which of course you simply dont know the difference ..

As long as it is the same or higher, typically you are fine.

If 2 other people qualified, I'd be fine with that.

It's been fine but there's a lot of work involved.