For the most part the homes have been under $225,000 renting between $1495 - $1695 range. 

With $50K and a DSCR loan, your budget will likely cap at properties in the $150K-$170K range, depending on the closing costs and any repairs needed.

And what is your price range and are you looking for turn-key properties or something along the lines of a "fixer upper"?

@Jaren Taylor, not sure if this is why you talk about raising all cash, but given most deals are trading in the 5% cap rate range, and agency debt is 6.5% while balance sheet debt is closer to 7%, I whole heartedly agree that all cash is the ideal capital structure for many properties today, if your goal is to maximize overall returns for your investors.  

Looking at properties in the $200-$400K range to get started, but may go higher if the math makes sense.  

S&P has had 2 back to back years of returns in the 2x% range.  

I'm not sure what the current appraisal value is, but comps in the area range from $600k to $1M+.

AND there aren't many note buyers who will buy notes with large balances in the range you mention. 

I'm happy - the floor plan is exactly what I was looking for - tri-level 4/4- which is hard to find in the price range I wanted.

I prefer using gas as you will also be able to use it for your range, and most people prefer that for cooking.