The typical formula is 20-25% down + rental income greater than mortgage payment + good personal credit and PG = DSCR. 

@Travis Hardy, I won't dig into the details of your analysis but I think I can give you some things to consider in a general sense.The typical buyer is NOT analytical. 

For example, a buyer putting 20% down on a $500k home would pay around $500k in interest over the life of a typical mortgage at current rate around 6.5%.

A lot of those items should be within a typical lease agreement.

During the warmer months of the year I typically pay the electric bill and for my internet/tv services.

maybe some light repairs after the tenant moves in...so your first few years are typically stabilization, and you investing into the property. 

While it’s typically aimed at larger developments, it's worth investigating for significant projects.4.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Real estate typically appreciates over time, meaning your property could increase in value even if you don’t make any major improvements.

They typically want two years of work history before they will loan, so it's possible that you won't even qualify for a loan for quite some time.