Would you know in the pre-qualification process if you qualify for a conventional loan vs a DSCR?

Purchase Price: $270,000 (jointly with a partner)Initial Rents: $1050 and $1250Current Rents: $1400 and pre-leasing for $1500 (making it a 1% rule deal!)

Hello,I am new to real estate investing and decided to go with Easy Street Capital as our lender for the DSCR loan.They already ran out credit and we went under contract on a property after getting the pre-qualification letter from them.I also got the Term Sheet from our contact Zach and the last page is asking us to wire transfer $2,500 to their bank account for the deposit.Is this common for private lenders?

We have upped our game significantly to counter this, and now start pre-leasing activities 3-4 weeks out whenever a tenant is not responding. 

I have a few stubborn tenants who insist upon paying in cash and I make them take the money to my bank with a pre-filled out deposit slip with my name and the last three digits of the account number and then they fill in the date and the amount of the deposit.

Because Florida is the nation’s largest contributor to active inventory (19%) and monthly new listings (15%), despite being the 3rd-most populous state.Florida Facts:Population: 23 million (#3 after CA with 39 million and TX with 30 million)Active Listings (Feb 2024): 125,962 (19.0% of total US active listings)New Listings (in Feb 2024): 49,294 (14.6% of total US new listings)Median Listing Price (Feb 2024): US$459KIncrease in Median Listing Price (YoY)2017: +6.6%2018: +0.1%2019: +3.1%2020: +3.7%2021: +21.1%2022: +8.5%2023: +2.2%Median Listing Price: FloridaActive Inventory: FloridaAt the state levelFlorida’s active inventory of nearly 126,000 listings is back to pre-pandemic levels.

Step1: get a pre-approval letter from a lender. this pre-approval will tell you how much of a monthly payment you can afford and will give you a purchase price to stay under (60-75 days out)Step2: find a realtor to begin working with. if you don’t know a realtor, ask around!

pre-foreclosure means a notice of default has been sentforeclosure means a sale date has been setAuction is the actual auctioning of the propertyREO is Real Estate Owned - the bank won the auction  What happens when the bank wins the auction... does it go onto the mls as an reo property?

What I am currently doing: connecting with as many people as possible (lenders, agents, other investors, wholesalers, no contractors yet but it's on my list), continually looking for properties and getting comfortable analyzing them, educating myself on the numbers side of things, using the flip BP calculator, learning about the market I want to invest in, viewing a few properties with an agent to get the feel of that, I have not allowed my credit to be run or any pre-approvals. 

Sign in sheets and 24 hour pre approvals for open houses?