the majority of even my national users are looking to keep cash in reserve and as such are looking to landlords to finance that TIA as additional rent at a return premium and then that extra rent bakes off in whatever term is negotiated. 

., as long as you know (or think you know) what you are in for.

But, I always try to get my borrowers to qualify for conventional because the terms are better then on a bank statement loan.   

That's the ultimate goal if you listen to these people long enough anyway......Well, doesn't matter to me I guess, cram those people in there....let's see how it works out....

The rate and terms on the 2nd lien position if you can find one may also not make it worth the cash out.

If that's the case, you'll want to start with a fix and flip (or hold) type of loan, complete your renovations, get it rented out and THEN refinance into a DSCR loan for a long term hold. 

Like to learn about long term rental

So how long have you been in N.

Working with a mortgage broker that specializes in DSCR loans will help you find better rates and programs such as lower DSCR ratios such as a DSCR 1 ratio for better terms versus needing a 1.2 or 1.25 DSCR ratio (more on that below).

I know that is a long pay back period but don't plan on selling anytime soon, plus you never know what nat gas prices will do.