One of the key benefits of a DSCR loan is that it allows you to qualify based on the rental income the property is expected to generate, making it ideal for those with multiple properties or who may not have a strong personal financial profile or W2.

I actually had an initial phone call with the co-host that ended up lasting an hour because he kept giving me tips and local knowledge.

I strongly suggest you talk it over with experts who specialize in Memphis.

With your CPA background and audit experience, you already have a strong foundation for analyzing deals and understanding the financial side of real estate—a huge advantage as you dive into this new journey.

If your calendar is packed, this indicates you are in a strong market and will quickly make ROI AND you wont have to worry about this issue again. 

If you invest into an area that has strong growth and good employment numbers it can overcome many other Cons.  

Specifically, I’m drawn to distressed properties, such as pre-foreclosures and foreclosures, because of their potential for strong returns and lower acquisition costs which I feel is a great combination for a new investor with my budget.That said, entering the U.S. market as a Canadian comes with its own set of challenges, and I want to make sure I’m approaching this the right way.

Based on what you stated initially, your income from the property is 85k.

Scope creep is a huge problem and the more you learn up about the project up front, the easier it is to figure out what actually needs to be done and avoid surprises (or pass on deals that need more than you initially think): https://www.biggerpockets.com/blog/due-diligence-ultimate-gu...I highly recommend building a contingency (I do 20%) into your rehab budgets for unexpected issues.

However, I have no idea how to choose from the remaining cities, it seems there are a lot of potential options:- Midwest - Michigan (ie: Grand Rapids) seems to have options, also seeing Columbus Ohio and Indianapolis coming up- Reno - I've seen mentioned several times on here- Pittsburgh / Philadelphia / Twin Cities - All mentioned as lower cost to get started, and seem to be experiencing growthI'd ideally like to find a place that has strong potential for future growth, a diversified economy, and I don't mind living in (being close to nature would be a plus).