Here's a bit more in detail about how rates are calculated for DSCR loans:1.

The biggerpockets rental calculator is great, but sometimes the rent estimates are way off.

I would also need to break it down with the rental calculator to see how strong of an asset it is.There are some creative financing deals even with traditional financing (like 2-1 buy downs) that many of my buyers have been using recently. 

I ran some super rough numbers on this here calculator (https://www.americanfinancing.net/mortgage-calculators/extra...$300 additional each month should drastically decrease the time it takes to pay off your mortgage. 

Make sure you calculate the estimated rehab cost, and hold time.

AKA it is a way to access some of the money you've put into your home while also making sure you can still afford your mortgage payments and other debts.You will need a renter in place as rental income is apart of the calculations when underwriting these loans in addition to the other factors you mentioned like monthly housing expenses (PITIA: principle, interest, taxes, insurance, assocaited fees ARV, debt outstanding.

Utilities, taxes (property, local vacation, & income), landscaping, furnishing / decorations / amenities, pest control, & supplies (soap, TP, etc) are the big ones on my STR calculator that you didn't mention.I'd also recommend using the enemy method to determine expected income.

View report*This link comes directly from our calculators, based on information input by the member who posted.

Once you locate an area, dig into the average nightly rate, create a spreadsheet that calculates average occupancy (AirDNA can provide this) along with average nightly rate and begin plugging in properties & expenses in your target area to see if these align with your goals.

Wayne, You’ll also have to take into account the monthly HOA dues into the DSCR calculation.