Luckily I had war fund saved up for the HVACs, roofs and foundation repairs I needed.

Why would you jump ship to save a few dollars? 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Thank you for this post I copied it and sent it to my office to save on drop box.Myself I grew up in the land business as my Dad was in the land business starting in the mid 60s and I started in 75..

As a result when the brokerage acts as the listing and selling brokerage  it saves both home sellers and buyers money.

You should keep saving, get pre-approved so you know where you stand, and start working with an investor-friendly agent to show you homes so you get some reps in.

Unfortunately, I couldn't purchase it this year but I just need to keep saving, analyzing deals and at some point I will be able to purchase it. 

Takes time and money, but the savings are exponential.

With new units I will save water and remove the larger older tanks.Installing Power Flush by Glacier Bay from Home Depot at $139 each, They have less chance of getting clogged.

When you first approach the homeowners about helping them out of their property, you'll want to let them know that you aren't going to save their mortgage you're just trying to give them a clean escape from having that defaulted mortgage on their credit.