DATE:  Have we all decided or confirmed a date?

Once you are experienced and have a good base of cash flow and reserves, I think it makes sense to do a more creative, high-leverage deal, but doing it with low reserves and for your first deal is very risky. 

Hi Riley,I am not in Oregon but have a property called Rampart Reserve in Colorado that I have 4 tiny (120 square feet) cabins that I do STR in the summer.

You can also look into flipping and wholesaling to build up your cash reserves and buy rentals in the long term.

We need at least two to three consecutive months of downward trends before the Federal Reserve considers cutting rates.

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).

I also would not pay any additional principal until you have dedicated reserves for this property - STRs can be more volatile than LTRs so you'll want to be more aggressive about hedging that risk.

Do you have reserves to carry it for a time?

You can’t avoid all risk when you use subject to or wraps, but you can limit your exposure by buying the correct way and having a reserve if things go south.

Reading success stories just further confirms I am headed in the right direction (or right direction for me).