If you are planning on buying and holding, lenders tend to like you putting 20%-30% down.

That could just be the dialect used in the midwest where I am.There is a big difference in industry knowledge between a residential agent that can legally do tenant rep work, and full time tenant reps.As for next course of action: I tend to be a pretty straight forward guy.  

A different investor will have different criteria.On the other hand CrowdStreet tends to have one of the largest volumes of deals.

If the loan amount is less than 500k, there is a lot less lenders that can do these types of loans compared to 1-4 or 10+ units and rates tends to be higher.

After talking to 3 companies, you should have a median price of what the cost will be.Keep in mind, a professional company tends to have processes in place to increase efficiency like inventory management and 24/7 phone coverage.

Same goes for number of LLCs and what to fund them with, since bear in mind that CA tends to be more cumbersome and expensive to have LLCs than other states.California is generally more cumbersome than other states when it comes to taxes and filings.

Hi Jacob S. correct, labor in Miami tends to be less than other areas of the country such as NE or W coast.  

As others have commented - DSCR Loans tend to be a great solution for people in your exact scenario - fed up and tired of giant hassle and paperwork for conventional or bank financing - not worth the often pretty small benefit in rate or terms.Check out this article I published last year on BiggerPockets on what to expect documentation wise for DSCR Loans - they have become a nice blend between solid underwriting and doc sets needed, but not too much (and not too little like notorious "no doc" loans)https://www.biggerpockets.com/blog/what-documents-do-you-nee...

In reality I only change it at the end of a lease if needed, but that tends to keep them from setting the thermostat to 64 degrees in the summer.

The properties tend to bring in good rents for their value and are of course not nearly as expensive as the city.