Your ability to turn around a property with an 11% cap rate is a pretty strong selling point.

Even at a high cap rate you've got several million dollars of market value here, so I'm curious about your base numbers.

The big difference is DSCR loans are higher interest rates.

LTV can reach 70~80% even the cap rate is only 4.0%.

It’s quite appealing as a long term investment - even at today’s rates.

There are a few more “big ticket” items that need to be considered (Minisplits & landscaping) but most of the major costs have already been accounted for on this property.We currently have a 30 year conventional mortgage with a 7.125% rate on a purchase price of $750k. 

During this initial research I read several articles which state that coverage in high risk states has significantly declined since 2015 due to policy rate / deductible increases such as what I am outlining above.

Peak months (winter/snowbird season) see higher rates, while summer and hurricane season may dip.

There seems to be an endless number of these listed with attractive cap rates.

Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).