Rate is reasonable at first glance but yes rates are moving down and should continue to shop, get quoted, can be major changes day over day10% Down DSCR doesn't exist and has never existed to my knowledge so I wouldn't count on that15% down does exist and is rare, however as others have noted, usually it doesn't actually work since the restrictions, such as a high DSCR ratio or LTR only rent qualification (and high rate environment) never let the numbers work however as rates continue to fall we may finally be able to see some 85% LTV DSCR Deals actually pencil again!

It is much harder to push tax increases when we are in a stagnant or even deflationary environment.  

@Jerry TilleyAsset based is going to be a different Non-QM program than a DSCR and typically higher rates than a DSCR.However, mid-7s on DSCR is high in the current environment and given the info you've provided. 

If you are direct mail marketing in today's environment how's it going for you?

As your new Landlord, it is my high honor and distinct privilege to provide you exceptional management, prompt maintenance, sound hospitality, and a quality environment to call home!

Every market segment will have its own experience as it reacts to the new rate environments IMO

Also, in todays landing environment you can't buy a 3.5% interest with only 14 k paid in points, so again, since you have that option with the sub to I will take that all day. 

Google "Pace Morby creative finance", he's got so much info on this and how it can benefit sellers.RE: Seller Finance, A lot of buyers are holding off on buying due to the interest rate environment, dealing with banks, getting qualified, etc. but if you could offer an option to someone to buy your property and YOU become the bank and get paid every month with interest, this could be another option for you.A good real estate attorney can make these kind of deals air tight for you to limit your risk.

My other Revenue Stream is by selling the property as a venue for weddings, inclusive of all the rooms. 

@Dan KielySugar Land and Katy are family-friendly suburbs with good schools, a strong job market, and a safe environment, but have higher property taxes and commute times.