@Josh Mac-  get a  free loan pre approval in place for a simple scenario ...this will  allow you to begin getting  educated /  organized and  will lead to many more  questions 

DSCR doesn't keep anyone ahead of any potential market dips, likely quite the opposite due to the pre-payment penalty's often associated therein.

If you dont have it, find other ways.My first house was a pre-foreclosure.

Get your loan with an underwriter signed pre-approval not from your Realtor.

Converting apartment buildings  (made up of 300-600 sq ft units) that have lots of character and close to downtown to condos was very popular in the boom times (pre 2008). 

I'm 24, currently have about $200k saved up, and have talked with a mortgage lender but not finalized getting pre-approved. 

Since it doesn't sound like you have a pre-existing relationship with a builder I'd spend a LOT of time checking references and their other projects prior to picking a team.

Hey there everyone i need scripts related to pre forclosure some of them so that i can select one or re create 

Not sure if it'd be of interest to you, but a buddy and I built software that helps RE pros find and close more off-market properties through real-time, custom intent signals like probates, pre-foreclosures, code violations, and eviction notices.

What I think I understand now is that, for instance,, if the taxes due for the bid year are $500 and you win at $5000,  the extra $4500 is essentially pre-paid 2009-2013 taxes for when you get the deed.