Just a tip - make sure you don't just look at the current property taxes. 

Are you currently in the STR or LTR space / are you looking to expand into one or the other as you grow your portfolio? 

In some cases, after running the numbers, I’ve even faced potential negative returns, causing me to miss out on promising deals here in South Florida.That brings me to my question: I currently own two homes—one is my primary residence, and the other is a rental property.

Both companies have recently closed on transactions with people new to the industry who have no idea how much their current investors are hurting. 

Currently you'll need about 30% down to reach a 1.2 DSCR.

I currently operate a few STRs so have a good understanding of that aspect although they're all located in touristy locations.

Just curious on possible strategies or suggestions from anybody currently thats an agent in the Central Illinois or Chicago area.

Currently, interest rates, taxes, and insurance are very high, making it difficult to cashflow with downpayments that are below 40%.

I am currently working to find ideal properties.

The equity is actually what you are paying for the property.In this case let's look at the numbers that count,...the current numbers.You have about $500k or more in equity, which is buying you a property that's worth about $700k (I went with the lower PV.