I would imagine you're capped at 70% LTV to make the DSCR work at whatever threshold that lender allows (typically 1.00x) or maybe it's a credit/FICO issue. 3% in origination also doesn't seem too far off depending on the loan amount.

Age wise that's not bad and is pretty typical for investment class assets here in Memphis.

For example Avondale typically has 2-4 units for sale with 2/1s at $1200-1600.

If you're unable to find comps within a 3 year time frame, I'm interested to know what your other search parameters typically are ( sq. ft. range, bed/bath count/ etc. ) , and also the locations you are unable to source these comps. 

My wife and I used to do flips in this area, and I have a couple listings along with long term rentals I manage in the area..For the co-host, they typically do not handle permitting and other items like that (this can be agreed upon between you and the co-host.

We typically use this unit as a mid term rental and then in between time while we try and fill the vacancy, we list it on Airbnb.

Quote from @Michael Smythe: @Christian Gibbs let's look at this logically.PMCs either charge a percentage of collect rents or a flat fee.If they charge a percentage of collected rent, they typically are incentivized to get a property ready to rent quickly and find a good tenant.-- But, what happens if the owner wants to drag out repairs with requests for multiple bids, takes weeks to review and approve those bids and then take even more time to send funding?

The if is the challenge as ground up ADUs typically cost more. 

@Michael Izbotsky In community property states like California, assets acquired during marriage are typically owned equally by both spouses, which may complicate transferring jointly owned property into your sole-member LLC.

On top of that, our STR management company now oversees more than 90 listings under the Cozy Co-Host banner.My wife and I have transitioned from the typical 9-to-5 grind to achieving financial freedom as business owners and real estate investors.