DSCR loans typically take 21 days to close.

Insurance typically covers only the directly damaged area, not undamaged flooring, even if it's continuous.

Testing the entire BRRRR process to see if it's the right strategy for me long-term.building equity through rehab and build out will be best achieved with a lower priced cash purchase---typically wholesale. or word of mouth. depends on the region though. lots of ways to hunt for good BRRRR candidates, but hunting on the MLS typically wont get you low enough prices to make sense....My brother-in-law, who owns a landscaping company in Lee’s Summit, works with a lot of local builders and has been a huge help...This sounds like a great resource for finding subs that will do the work for you independently. most subs can do other types of work as well.If you’ve worked with trustworthy contractors or subcontractors in the Jackson County/MO area (especially those familiar with investment properties), I’d love your recommendations.

Issues 1) even garage conversion ADUs in single family zoned areas typically cost more to build than the value that they add.  

The typical income from a free and clear rental would probably be $800-1500/month - and on a financed rental probably $300/month on a good day in today’s market.  

I don’t think that is the person this sort of situation is meant for.

So, a house that would typically cost $100 per sq. ft. to build 5 years ago, is now costing $200 per sq. ft. 

I do not have a traditional W2 job so I can't pursue the typical conventional loan or a FHA since I don't have income (hence the DSCR route).However, I've seen that most DSCR lenders do not lend if the loan amount is less than $100K.

You should connect with a lender like @Jose Valdovinos who might be able to help you sort through this.

For example, a buyer putting 20% down on a $500k home would pay around $500k in interest over the 30-year life of a typical mortgage at a rate around 6.5%.