Hello @Jordan Wisser,I agree with you regarding competition heating up if/when rates drop.

However, rates have since moved upward.A 30-year fixed rate mortgage is once again sitting around 7% interest:The real estate industry hoped 2024 would see a recovery in which mortgage rates fell and home sales climbed.

The largest argument against DSCR is the rates are higher than conventional. 

Have them use as collateral and get a point off the interest rate.  4.  

or you can buy down your rate or pay points to reduce the interest rate as this is a commonly way to reduce your monthly PITIA payment. 

.* Aiming to refinance with a rate-term dropping down to about $3,500/mo, so we could live for free.

I would discuss financials on this if you choose to come see the pre-rehab on Dec 1 (I have made a lot of money (close to 7 digits after this rehab is done in ~2 months) but due to not executing a cash out refi (due to the rate increases) my return is below my underwriting).

Oh and I forgot to mention the interest rates impact : ). 

The only way to modify a loan to a lower payment during a time of rising rates is to move a bunch of principal to the back of the loan.

If so, maybe you just keep it and do a cash out refi once rates come down a little more.