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).

Deposits will not be returned (full or partial) until all tenants move out.In the event of abandonment, arrest or death, the following person has the authority to decide when to terminate tenancy and how to store/distribute my belongings:Name: ____________________________________________________Address: ____________________________________________________Phone #: ____________________________________________________

What’s a good estimate you think I should have for the down payment, closing costs, repairs, holding costs, and reserves?

As far as cash reserves go my mentor and I would be using a cash partner to fund the deal.i have little in my own bank account at the moment. 

A lot of things are not used in store. 2 coin machines, 1 is broken and could be replaced by a card reader, large vending machine empty, soap vending machine coins could be converted to card.

Added bonus would be being able to operate out of a savings account to allow some interest income on my reserves. 

I have reserves saved up for my first property.

Here are my initial thoughts:-Making the offer contingent on seller showing me background check documents from their due diligence-Requesting for a walkthrough of the property after the offer is made, and reserving the right to pull the offer if the house is not maintained wellAre these ideas practical?

Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum.

Ive probably only had maybe 20-25 incidents in 8 years and over 30,000 reservations.