I did a DSCR cashout loan from my other rental to buy and reno.

I'd anticipate financing wise at least 6 months but would always recommend a 18 month financing term on your loan if your getting one. 

We drive to the property for every loan we make and get a feel for the street scene.

Old thread but we opened with Frost Bank, my representative had to consult with many people but finally we opened child subseries LLC.

Hi Jared,Welcome to the community, and congratulations on finally jumping in!

Plus you can get 30 year loans instead of 5-7 year loans you would get on 5 units or more. 

Commercial loans are also tracked. 

Typically hard money lenders will lend a maximum of 70% of the ARV so if you are below you will have more flexibility on the initial loan and the refinance (better terms or higher cash out) and of course more profit if you sell

The right idea is going to be the bread and butter.1) Ideal location2) Quality properties over quantity of properties3) 1.25x DSCR4) Intention to hold no less than 8, but ideally 12+ years.5) Sufficient cap reserves6) Mechanisms to enhance cash flow(via alt investing or house strategies).7) Liability protection through no PG loans(if possible), LLC formation, property management and being a diligent landlord.8) Invest deeper, before wider.Now if you're talking where to invest, different information.

Not sure the final outcome, but I'm guessing that is a case where you think things are risk free, but I expect the purchaser was out significant legal fees that were not reimbursed and ended up not getting the property.I've always thought about this in the rare instance that a super nice and super valuable property goes to sale with a mortgage on it.