@David LewisRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The MN statutes are all readily available online, and will be easily found via a google search.

Can't find much online....  

As I mentioned I finished my post graduate education 50 years ago, so my experience may not be so relevant in today's world, with so much of the information we received in college courses available on line for free.  

More on DSCR loans: DSCR loans won't use your income to underwrite the loan.

Quote from @Melanie Baldridge: In 2025 the bonus depreciation rate is 40%.This means that if you bought a property for $1M in 2025, did a cost seg study and found $300K in eligible assets that you could depreciate, you could take 40% of that $300K as bonus depreciation to offset your income in the first year.40% of $300K = $120K.You then apply that $120K to the owner’s personal tax rate to find the final amount that they can defer in year 1.If your tax rate is 37%, you can defer $66.6K.This is a big deal even at the 40% bonus depreciation rate this year.It’s a massive benefit 

Think About Future Value & Target Demographics•Check the average income levels in the area.

How would I go about getting approved with no income history?

High-net-worth individuals, private lenders, or experienced investors looking for passive income may be ideal partners.

Having the property on your tax returns will help to wipe the mortgage expense with proposed rental income, making it easier to qualify for your next primary residence purchase.