If you want to add more, get an umbrella to cover everything.

Pros is no prepayment penalty and dont care if rent covers mortgage as long as you are able to repay.Downside: Prepayment penalty. 

You have a better handle on reality than an investor who allocated 15% of $800 rent to cover vacancy and maintenance/capex.  

I do DSCR loans in al 50 states I'm looking at a property in Shawnee, KS. and was thinking a DSCR loan would work well due to the fact the house is priced well below market, and the rents in the area could easily cover the PITI

I'm located in Northeast Georgia, and we're currently seeing a trend where specific incentives are being directed more towards covering closing costs rather than rate buydowns.

To address potential future problems, wouldn't a homeowner's policy and/or home protection plan cover any occurrences?

See if there is anything you are missing but you do have a lot covered.5.

Want to use lending to cover down payment and other expenses.  

Account Closed    For a conventional loan IF the rental income is not on the tax returns because, for example,  you purchased the property in Jan of this year you can use 75% of the lease to cover your debt.

I also covered this many times on BiggerPockets Facebook Live events if you can dig those out from around 2020 and 2021.