You can make a profit in any market, you just have to adjust your investing style to the market :)  You got this.

I would say that a 1.20x DSCR ratio minimum for BRRRR is a bit high - plenty of options out there that wouldn't require such a hurdle A lot of industry DSCR requirement doesn't make sense actually, typical cap rate right now for single family with average price of $1.3 mil in SJC is about 1.5-2.0% right now, DSCR is whooping low 0.3-40.I don't know how you guys could qualify DSCR rental in CA these days.Now that our friend in Milwaukee is having trouble getting financing of his own, and we speak about Milwaukee here where not too distant ago, it was in double digit cap rate territory.my question to you lender folks how are you adjust to these situation ?

Also, in order to take the bonus depreciation, do I need to amend prior year return, or can I take the adjustment in the current year?

I recommend you do this annually to adjust for utility increases and other variables.

Simply write down your qualifications that you use to screen your tenants and you can adjust them over time, but you need to start with something. 

Many owners now trying to flip them to MTR, so now that market is also probably over saturated.If you are super creative and maybe have some great connections with demand generators....like you work in the HR department of a reginal hospital or are a transplant coordinator or maybe a placement/claims adjuster for an insurance company, there is probably hope. 

Choose,It's good to have a general guideline to start with, but as you gain experience in a particular market you need to adjust your numbers based on experience.

You are typically going to see WSJ Prime + .5-1 point adjustable with a floor.

Never assume anything with a newbie. haha I have reviewed the bylaws and through my untrained eye I did not see a clear statement about the windows, just general statement about adjusting the exterior of the building, so I have requested additional information. 

This is very true, and even more true in today's market where financing costs are higher but prices haven't adjusted fully to compensate this.