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. 

Ability to repay - can you as the borrower afford the payments based on the loan amount.Typically they will not take into consideration the mortgage on a new property that has not been taken out as that is new.

This would pay us back less than we were owed but still enough to come out whole.We all tried to negotiate a short payoff with the second-position lender, who foolishly demanded payment in full.

In this type of situation, they want low interest rate with low down payment also.

you may have to save up until you have enough money to do so - down payment, closing costs, reserves, etc.House Hacking: What Is It, How to Start, and Strategies for Successit's a more powerful way to get started. 

House hacking is an excellent strategy, especially with the potential to use an FHA loan to secure a property with a low down payment. 

Equity earns 0% interest (inflation will destroy your purchasing power) your real estate investment will Appreciate or Crash regardless of how much down payment you put on your home.

@Marcos Carbi  If you want to allow a payment plan, Tell them this is the best I can do:Pay $xxx cash by tonight at 8pm for November's rent. and then beginning Monday Jan 20, pay $450 each Monday (in cash?

I do not understand your remark as related to the DSCR loan.  2 ADUs are not allowed by f/f conventional financing but is not always enforced.Fortunately if you stay with the current tenant without a refi, by the time you pay principle it is likely the rent will have increased enough to absorb the increase mortgage payment. 

If you have extra cash at the end of the month, then do double up payments on the mortgages so the principle is reduced and this will increase your heloc room.