Given these factors, is it worth losing some cash flow by refinancing to a conventional loan, or should I explore other options?

Your location may also play a factor in this.

To help assess each pet, we use a service called PetScreening, which rates pets based on various factors.

Good luck. haha i would run away from anyone self-proclaiming as "financial expert" with the expectation to "meet the guru / mentor/coach / master of all business" in his/her personal residence lol I have not google him yet but I bet he is taking picture in front of luxury house and driving sports car ?

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).

I got a chance to drive a few of the neighborhoods to figure out where we want to buy.

MTR is our play there.Vegas can definitely be a tight market for flipping, with competition driving up prices and squeezing margins.

These are not nationally known locations, but still pretty popular drive-to vacation spots for Minneapolis, Chicago, Milwaukee and Detroit metros. 

However, the potential long-term rent is about the same as our mortgage, meaning we’d lose money when factoring in repairs and maintenance.3.

Our hypothesis was that by having the highest-reviewed properties, everything in the business would become easier.Paid Cleaners Well: Cleanliness was the biggest factor impacting reviews, so we decided not to take any chances.