We just need to verify that you have cash for the downpayment, closing cost, and up to 6 months of the mortgage payment as reserves.

One has a 162k mortgage, $1250 tax,Insurance,%3.5 30 yr, worth at least 750,000 LTR rent $3200, #2- Los Angeles worth   $750k as well just did a remodel of 150 K, mortgage is 75,000 payment $700.tax,Ins, Mtr/str hybrid.

Also DSCR typically has pre payment penalty while hard money does not. 

Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

@Jordyn Ohsnot enough info to helpbut if you're using a HELOC for the down payment AND getting a loan, then you're probably negative cash flow given that's 100% leveragei would never do that unless i were going to refinance in the short term

I do direct booking through the Houfy website, taking credit card payment by Square. 

QB really is not made well for landlords and landlords leave QB every day for better software, payment processing is really expensive, and with QB there's no tenant portal for your tenants to schedule payments or push maintenance requests. 

A $400-500K mortgage is not a trivial payment plus property taxes on top of running your own house. 

I finally understand that credit card payments are exempt from needing to send 1099's.

However if you have enough reserves, 6mo or greater then I'd say chance it but a couple of missed payments from the tenants and you have to foot the payments out of your own pocket.I'm all for taking risks but I think you really need to evaluate the age of the major systems so you don't get hit with a bunch of cap ex all at once as well as your reserves.