@Phillip Rosin With the information you provided above, the condition will most likely not going to qualify for a DSCR loan with the appraised value at 425k.

Keep in mind if you looked through your NOO mortgage, it might state in its conditions, prohibitions on collecting advance rents, in my case, beyond 2 months.

However, these "cheap" houses are where the majority of the bad experiences come from because usually for a house to be worth that cheap it is in horrible condition or it's in a location where many tenants do not pay rent. 

Orlando is literally built for STR as you won't have to get wrapped up in learning and keeping up with regulations and nosy neighbors, I'd be happy to talk to you about that more.Florida in general has always been very attractive for landlords due to friendly landlord laws, constant flow of new residents, weather, pricing compared to many other large metros, always growing economy and endless hospitality/service jobs that feed the rental market.

This is not to say this is the only successful method of real estate investing, but as I'm sure you're well aware, with current interest rates and overall market conditions, sourcing and acquiring LTR deals is difficult unless you're going off-market. 

Typically, I've used the 70% MAO rule, but given the current market conditions, I'm wondering if adjusting this rule to 80% is more appropriate? 

We generally categorize people suffering from this type of condition,  as being insane.

You can't get inside to view the units, so you can't confirm or deny the condition of the property or it's value.If it were me, I would find a way to take control of the situation.

They do not add more for garage, basement extra storage, central air conditioning etc, which are market rent additives. 

Or, should I accept with conditions if one or more applicants do not meet the minimum credit score?