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).

However, you can claim a tax credit on your California return for taxes paid to Oregon, mitigating double taxation.If you only plan to own this one property, consider using umbrella insurance as an alternative to an LLC.

AppFolio is great for property managers, but investors often use Stessa, REI Hub, or Buildium for tracking income, expenses, and tax reporting.

I think this calls for another patented day of Mike's Research Plan.

This hidden cost significantly increased my loan’s overall expense, and I only realized it after reviewing the final terms.

You'll need more cushion between your income and debt payments to account for everything else - taxes, insurance, food, living expenses, etc...

One good thing about building a 2-4 unit as a primary is you less money down and you can use the other units as income to help build a more expensive home.FHA allows for a higher loan amount as you get into the 2, 3 and 4 unit homes and its still only 3.5% down.

@Alina TrigubA Solo 401(k) does not eliminate UBTI generated when the plan engages in a trade or business. 

I imagine a T-6 is just a Trailing 6 month table that shows our rents, expenses all fully tabulated and organized into a summary table, but having a hard time finding documentation online to support that. 

You just need the right plan and the right people in your corner.A little background on me—I’m a real estate broker, investor, and developer out of Rochester, NY.