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).

You would need to factor in the cost of the conversion as that would likely create a loss, then we would need to know your depreciation schedule.

The rate that you are at right now is, I would expect, the main factor limiting cashflow.  

I'm deliberating whether I should hire my neighbor (he just had leg surgery and walking with a cane) across the street to do construction because if the construction turns out bad, I strain the relationship with the neighbor across the street, and also whether I should hire my neighbor from another place who does the design because I kinda don't prefer he knows where I live (just because if the design turns out bad, I strain another relationship with him and exposes my address of where I live).

Lesson learned that location is always no.1 factor and quality of renovation is the momentum of it and those two the most profitable combination.

Given your plans to use VA loans for multiple properties, it’s important to consider a few key factors when deciding on your next purchase.Since you’re already using a VA loan for the 2300 sqft home, it’s understandable to think about the size of your future properties.

[MIAMI-DADE/BROWARD REGIONAL PROVISION]: Buyer shall designate Closing Agent.

I will be injecting new funds every year.Full Control: I enjoy analyzing deals and prefer to have full control over my investments, so syndication is not an option.Given that I'm a complete newbie in real estate, I would greatly appreciate your advice on the following:Selection Criteria: What factors should I prioritize when choosing properties?

They're specifically designed for new builds.

Hey Jake - Rates are currently around the 7's, but the exact rate will largely depend on factors like your cash flow, LTV, and FICO score.