All it's looking for at that point is total liquidity, credit score, factors on the property itself.1040's, pay stubs, Debt to Income ratios and things like that aren't a factor here.

Timing is an important factor in real estate... both when you buy and when you sell.  

The most important factor should be rental history and affordability.

When factoring in the rate and term, almost every single deal I look at is a looser due to debt service (unless the LTV is something like 50%).   

This will depend on a lot of factors, I am seeing the floor rate at 6.75% with a heavy buy down and as high as 10% with heavy loan level pricing adjustments. 

If they say no, ask them what is a determining factor for them leaving.

I hadn’t initially factored in the additional value, as we’ve already made significant improvements and updates to the property.

Done properly, an investment made today should have “priced in” the factors the were previously unexpected and resulted in trouble. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).