Us: We want to buy the property, fix up the (3) apartments not occupied by her parents to generate rental income.QuestionsMy thoughts are to work out a deal where we purchase the property from her parents without taking a loan from bank.

Quote from @Landon Sheveland: Hello,My wife and I, are attempting to purchase our first property.

There will also be closing costs to refinancing into DSCR.Lenders need 6 months to refinance a loan, anything sooner, you're probably paying a good amount of points / DSCR has to be rock solid.There also may be additional costs in maintaining your property.

Are you quoting net cash flow - after taxes, insurance, maintenance/repairs, property management if needed? 

Personally I could not justify investing $11k in a course that teaches you to rent a property then turn around and rent it to others. 

What's the age and condition of this property?

Having a commercial policy usually only covers property and liability, hence the reason for having the umbrella as well.

See the map below for where these zip codes are located.Note: The following charts only include properties in the above zip codes that generally match our property profile: single-family homes featuring 3-4 bedrooms, 2-3 bathrooms, 2-3 car garages, 1,100 to 2,400 square feet of living space, 1 or 2 stories, and lot sizes ranging from 3,000 to 6,000 square feet, built on or after 1985.Appreciation10-Year $/SF by Zip Code 2015-01-01 to 2024-12-31From the above charts, these zip codes appear to appreciate the fastest among our target areas (based on annualized growth rate)89032 (North Las Vegas), 11.0%89015 (Henderson), 10.4%89143 (Centennial Hills), 9.9%89031 (North Las Vegas), 9.8%89138 (Summerlin), 9.4%89141 (Blue Diamond, Southern Highlands), 9.4%89128 (Summerlin), 9.3%89123 (Silverado Ranch), 9.1%89129 (Northwest), 9.1%5-Year Pre-COVID $/SF by Zip Code 2015-01-01 to 2020-03-01The COVID market frenzy and the subsequent dramatic rate hikes significantly distorted price and rent trends.

I'd recommend working with a good strong property manager that lives in that area that can check on them.

How much rent are you getting and are you planning to buy more properties?