The lot is paid off and deeded to our LLC, but lender will not do conventional loan to LLC for the remaining financing so we'd need to take out a loan in our personal names. 

The concern with the DSCR loan is that I need to make the property present as though it's rented to individuals during appraisal (tough since it's a working rehab facility now) and must create another lease that shows the tenant as personal and not a company.

Personally, we would not do that deal.  

I've done this with my properties because I'm well known in my small town and don't want people to know what I own.LEGAL PROTECTION: By placing your assets in an LLC, you are legally separating them from your personal assets.

So is this just as simple as showing how much the property makes or do they also look at personal debt to income, credit score, reserves etc as well.

One thing to note when getting conventional mortgages and spouses.There is a 10 limit per person for conventional financing.You can either do 10 conventional in each person's name which would be 20 mortgages for 2 people or if you do the mortgages jointly, will only allow 10 in total.My thoughts are not to own joint assets until you are both married. 

I've personally sold a number of properties to VA buyers.

If you need a conntection in Upstate NY I can direct you to the right person.

However, a common benchmark is aiming for at least 6-8% cash-on-cash return based on your total investment (purchase price + rehab + closing costs).Always factor in appreciation potential, tax benefits, and personal risk tolerance.

I think the 10-14% rate is where it will be for the next five or so years personally so plenty of opportunity