Except that you will be required to get a loan for $200k or put another $200k from your pocket in to the deal.

@Michelle Hardy Just adding, check your local city too for their requirements, many have specific requirements that the state may not have.Here in VT in the towns my properties are in, there is not a requirement to keep them separate or pay interest. 

I also hope to continue to grow my network and meet other like minded individuals and mentors to help advance my investing business.Cheers!

I'm sure it's a little more efficient in larger cities, but my market requires up to 60 days to get approval.Lower your expectations with Section 8 tenants.

When those individuals are there for over half the year, it will bring prosperity to the island.4.

Do you have central boiler for water and heat or individual units?

It would require being a process. 

My issues with RentRedi have not risen to the level requiring immediate action. 

.: Quote from @Jay Hinrichs: Let me break your post into parts, as each concerns a different subject and as such requires a different response.1.

In general, DSCR loans will require the property to be either leased or at least "Rent Ready".