I’m happy to guide you through the process, share some success stories, and help you avoid common rookie mistakes. 

You say multifamily isn’t common around you - have you actually looked it talked to a realtor?

Find a good DSCR Broker that works with a variety of lenders so they can tailor your scenario to the right lender. 

@Craig Oram this is a common issue.

I think a return on invested equity analysis outlining a few scenarios with my models would answer your questions. 

I think there is a common misunderstanding that licensed contractors cost more.

Just want to start setting up as if it were. so far i have thought about creating 7 accounts.1) all rental income account 2) account where common utilities and mortgage will be billed3)maintence/capex expenses4)vacancy expense5)management expense (to put the units up for rent)6) property taxes 7)cashflow am i missing anything? 

It's pretty common practice to have something like that in a property management agreement, and if it falls under that limit they're going to pay it and not notify the owner except in regular monthly updates because it is below the threshold of what is an ordinary expense in the course of business.

But in terms of the upfront fee, this is actually common in a commercial loan.

That is the best case scenario, of course sometimes you get lied to and stalled, that's why it is important to always emply a double strategy and stay a step ahead.