With $75k very few markets could you withstand a downpayment, closing costs, reserves and capex up front.

@James LuctamarIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING. our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

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).

In terms of cash reserves outside of that we don't have anything substantial saved (our savings went to the earnest money) so our priority is to pay down the HELOC and increase income.

Must we forget the other federal agency, the Federal Reserve, is in a highly restricting posture right now, holding interest rates at historic levels to slow inflation.

I'll make the reservation. 

First things first: How are your reserves.

People have mixed opinions on this, but in one market I invest in, I researched and interviewed dozens of companies and went through 3 before ultimately confirming that there really was nothing which would suit my needs. 

Additionally, consider wholesaling as another avenue to both gain valuable knowledge and bolster your cash reserves.

Call it $600k with closing costs and reserves, so a $600k raise.