Based on your post and other comments, it sounds like your rehab is extensive enough that the property isn't habitable.

It varies by program.To learn more about DSCR programs: DSCR loans won't use your income to underwrite the loan.

This varies by lender.More on DSCR loans: DSCR loans won't use your income to underwrite the loan.

I see the base interest rate for federal lending is 4.25%–4.50%.

Quote from @Dave Schimmels: What is a good way to get accurate rent comps with existing tenants based on the area?

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

This will vary based on region but in general 2 – 5 points, 9% - 16% APR (meaning this is the annual rate so divide it by 12 to get the monthly interest amount), and documents fees can be from $600 – $1,900.

Most lenders will vary how aggressive they will get based on the experience of the operator (you), but I don't know any that will lender to someone who's never done a spec build like you're contemplating.

@Robert Spiegel Great question, and it’s always a balancing act when dealing with long-term tenants who’ve been fantastic overall.Based on my experience managing over 1,200 rental homes in North Texas, including areas like Dallas, Fort Worth, Plano, and Frisco, here’s how I would approach this:Cleaning Charge: While $540 may feel steep, it can vary depending on the size of the property and local market rates.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.