I’d suggest focusing on securing solid DSCR loans—like those from thelender.com, which lends up to 80% LTV, considers STR income, and operates as a direct lender.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Private lenders or even creating a small syndicate with a group of investors might also be worth exploring, especially since you can point to your uncle’s track record and your own experience managing rentals as a selling point.If timing is tight, you could look into a bridge loan to secure the property while figuring out a more permanent solution.

You are VERY easily able to open accounts remotely by just uploading your EIN doc and then once your biz account is open you can open additional accounts for things like holding your security deposits, reserves, etc.

.ⓘ This is not an offer, solicitation of an offer, to buy or sell securities.

Should we pursue a "cheap" rental in order to build rental history in the hopes of securing DSCR loans down the road? 

As far as feasibility, you can absolutely use propwire, or propstream for that matter, to secure the list and then mail postcards to the owner info. 

Of course the rate is higher with 15% down, but it helps investors get that property secured with less out of pocket.Happy to help if there's anything you need.

Anyone over 18 fills out has to furnish their social security and driver's license numbers, and pays a fee for a credit / background check.

Here are some general guidelines: Lien Position1st Position LienEquityMinimum Down Payment of 20-25% (a 30% equity to sale price is preferred)Down Payment made in certified funds and not borrowedMaximum Funding of 70% ITV (Investment to Value)SeasoningMinimum of two monthly payments already made12 months or more preferredPayer CreditCredit Score of 650 or higherNo major derogatory trade lines (No 90-180+ days delinquent, foreclosure, repossession, bankruptcy, etc.)No decline in credit since purchase of businessTermsPrefer 60 months or lessMaximum of 72 monthsNo Balloon Payment preferredCash FlowBusiness has positive cash flow1.25 debt service coverage ratio preferred.DocumentationPersonal guarantee from a creditworthy individualStandard documents including Note, Security Agreement, and UCC-1 filing.Tax Returns on the business that substantiate profit and loss statements.OtherPayment history current and verifiablePayer Interview indicating buyer is satisfied with business and comfortable making paymentsMotivation for selling the note is not a result of a deteriorating businessConsideration of high risk businesses or geographic areasIn these situations, sometimes a partial is a better option.