DSCR loan rates are much closer to conventional than hard money, typically floating about 75bp premium, but with much much easier qualification (and interest-only options)

You'll drown yourself before you even begin to float. 

The landscape has changed with institutional buyers, ibuyers, instant and uniform access to information, Zillow placing all home listings on the internet, tons of cash floating around, lenders pushing money like dealers push drugs, etc. 

Whatever floats your boat.

So, it is likely going to be a 30-year loan, just the interest rate is FIXED for the first 7 years, and then floats based on a multitude of terms in the loan docs.Typically, the prepayment penalty period lines up w/ the portion of the term that is fixed rate and its assumed that the loan will be refinanced at year 7 or earlier, BUT at the end of the day, this is a 30-year loan that does not have a looming balloon payment at the 7 year mark4.

It's good news if you are a real investor and floating 40k for 5 months is no big deal to you until you liquidate the asset.The end result for investors is to build that monthly cash-flow, the problem is if you buy the properties with debt then 80%-90% of the cashflow goes toward the loan so your end is small.My plan is to start with a hundred k, do a fix n flip deal and sell, do another and sell then do two at a time and sell both. 

I think a big part of what’s holding us back is the funding for down payment, closing costs and fees plus being able to float our current mortgage and the cost of the new loan and any other setbacks that come up.

In an absolute worst case scenario (ie - no renters at all for some unforeseen reason) I can float the mortgage amount on my own - it would slow down my saving for additional properties, but I wouldn't be in an impossible situation with no way out, if that makes sense.

You're looking at floating 30k - 35k per every hundred thousand of value, but that includes everything: down payment, points/fees, closing costs, and debt reserve. 

Now you don't expect to hold for 9 months so expect to float the 28,220 and about 5 payments lets say.