The information contained in this post is not to be relied upon.

It varies for me city by city here in south Florida.

The information contained in this post is not to be relied upon.

Notices, eviction laws, tenant rights and landlord rights vary by state, with some county or city overlays. 

The information contained in this post is not to be relied upon.

lima one does spec loansbuilders capital.they mainly rely on experince they want to see you have done 2 or 3 in the last few years.. 

This is only happening in areas that have a strong hotel presence, rural areas that rely on cabins or other STR do not have this problem.

The cost to buy a laundromat can vary widely depending on the size, location, condition of the equipment, and goodwill.

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).

@Mordechai ChaimovitzGreat points made above along with what @Daniel C. said referencing @Tom Shallcross's post on another thread.The context and variables for each individual investor will vary but many people are comfortable with getting a 2-4 unit that will reduce their out of pocket expense compared to their previous rent with the intent to do rehab and raise rents over time.