Whenever I have an issue with financing, I normally contact local institutions.

Institutional investors such as BlackROCK who just bought all major rental highrises in Miami are the sole reason why this market is completely different than the past one you are thinking about.

For me, adopting a robust CRM system has been a total game-changer.

Now after all that, you have to go to a lending institution a second time and try to get a loan and there are many requirements to getting loans in todays environment which make it difficult.

Institutionals make up just a tiny fraction of the market, not enough to move the needle even a little.

So while I can't claim to speak for every financial institution out there, it's a very broad survey, finding an option not contained there might involve making quite a few phone calls.When I see 30 year fixed, 30 year amortization, 30 year maturity (basically, identical terms to a consumer-friendly kid-gloves home loan), which does in fact pop up if I specifically search for it, it's almost always at a rather high interest rate, and the borrower doesn't opt for it.

Adopt a long-term mindset from the start: will you be happy in 10 years from now that you bought this property?

The cash flow is great, but I am looking for a lending source---private or a financial institution---to buy many more like these---they need to be in small cities though.Property management is not a problem, since they own the house and will fix it up themselves. 

OP:>Of course the new bill allowing us to possibly sell off either property is enticing but not sure how to value that either.only jurisdiction in the state that has adopted the law allowing separating of the parcel is San Jose.  

Considering that DSCR  = NOI / Debt Service and NOI = Gross income less operating expensesWhen institutions are looking at operating expenses for a new purchase, how are they calculated?