In my experience, the local banks are going to get you better rates and lower fees with their commercial loan products than the "DSCR lenders".

It is a great market but highly recommend partnering with an agent who knows the market and has experience dealing with investors as location is key. 

@Zack Whiting We don't know your experience but jumping into auctions is not the easiest path for REI.

Since you already have experience under your belt, the key now is to take everything you’ve learned and apply it to your next moves. 

Had a somewhat disappointing experience with a guru* and now I want to focus on learning commercial and multi-family without wasting money on coaches/gurus.

What has been your experience and do you manage with a property manager or self manage ?

Though the upfront fees are definitely a factor, if I could share my experience (both as a lender and investor)...APR is meant to be an annualized reflection of the total costs incurred over the duration of the mortgage. 

The FEMA 50% rule does come into play, but we do a lot of ground-up construction, so some investors that do have some new build/heavy rehab experience are tearing down and building back to current codes.

Ask how many units they manage and how much experience they have.

@Travis Timmons thank your for sharing these details in your personal experience.