Well, what a load of crap.

It is an advanced technique that requires expertise and being well funded.Also, once someone has received a notice of foreclosure, it shows on his credit report as a foreclosure and you can Not save his credit by buying the house before the auction.

Are they requiring a minimum DSCR of 1.25x or 1.30x as well?

Hi Eric....STR can be tough in DFW area, but some people still doing well, while many are bailing, seeing if they can turn them to MTR or even LTR. 

My focus is shifting from cash flow to equity management as well as our portfolio mix.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

I am looking at cheaper homes that need a little more work as well. 

No one can answer that because we don't know what market you are in and what your list price is versus the actual value, as well as the scale of the town.When something hasn't sold in 50 days, it's overpriced.

This puts the current market rents of $885–$925 per unit well within the affordable range, with room for modest increases post-renovation.I’ve also reviewed competing properties in the area; apartments seem to be listed between 975 -1000, and houses are listed between 1300-1900.

Rate will be highly dependent on loan size, credit score, LTV, location, and property type, as well as a few other factors.