I'm needing to redo some foundation work and stucco on a garage conversion ADU in Long Beach.

Quote from @Brandi Jefferson: Hi Jaycee,Tampa doesn't have much inventory on MF, so I'm starting my research outside my market, and learning what I would need to make that happen, since house hacking is likely not an option.

I'm open to deals that need rehab but I'd rather find something that's up and running and that may only need minor fixes or rent increases.Do you have any property like what I'm looking for?

You always need eyes on your properties, someone acting as a caretaker. 

Probably not enough the IRA to own real estate given reserves needed and such.

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).

(Of course, there is a factor that higher rating will increase my booking but that is not just coming from adding one or two amenities) Besides item 5 and 6, I am not sure how much other items will attract more guests to my business.

Alternatively, happy to be a resource should you need help identifying opportunities and analyzing deals. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

She doesn’t need local family to manage it.