I do the standard buy and hold but the property has to be bought at a discount - 85% of ARV is my maximum - including purchase price and rehab.

You can also use a standard board of realtor lease template.

Owning two less expensive homes for long-term rentals offers diversification and stable cash flow, but may also generate lower monthly cash flow and property quality issues.

Many lenders will consider this commercial use, so a standard DSCR program will not lend to it. 

That's the category of lender you want to avoid falling into.This is a roundabout way of saying if you can show real value to your borrowers by understanding their business you will attract the best quality borrowers with the best collateral and can charge a premium for your services because they are the borrowers who understand what's most important in a lending relationship and its not solely the rate or origination fees.

Prime rental market, good quality tenants because of higher asking rent Lessons learned?

I hope you did quality work, as I know many rehabbers that don't, and while the pictures look nice, seeing it in person tells a completely different story.Assuming you did a great job on the rehab, here are my 4 suggestions#1 The front looks blah.

Prime rental market, good quality tenants because of higher asking rent Lessons learned?

Should be fully upfront and aim for a property that could work just as easily as a standard single family rental too

You can get a fourplex for about $500-$650,000 in a high quality part of the metro here with as little as $125,000 or so in equity/cash.