Based on what my mortgage broker told me a couple of days ago, these rates are in the low 7%'s, whereas the secondary home loan is low 6's.

Louis, Missouri, and based on the numbers, it seems like it could be a great fit for Section 8 tenants.I’d love to hear from anyone with experience in the St.

Some of the other lenders mentioned in this thread are more so private lenders / hard money lenders and while they may underwrite based on DSCR, I don't think it is the DSCR loan you are looking for.

Your argument is based on outdated assumptions and ignores the reality of today’s labor market.

Based on that range, I have been eyeing SF's in IN and OH.

. $360k equity (based on your estimated loan balance and estimated transaction costs if you sold, this is not calculating capital gains taxes but that would reduce your equity down to about $310k if you sold without doing a 1031 exchange). $8k cash flow (this will increase over time because you are in an appreciation market). $6k principal pay down (based on your current loan). $20k appreciation (based on 3% which is conservative, 4-5% is the historical average).

If it’s a good deal based on the comps, and in a good location, then I’d look into a conventional loan and maybe putting a little more down so that it cash flows.

I’m based in Portland, Oregon, where residential investing seems challenging due to landlord-unfriendly policies and negative cash flow on higher-quality properties.

If you get 100% of the purchase price covered then you should have sufficient funds for the closing costs based on what you're saying. 

PM me you're number if you'd like.I don't have any "opportunities" or property for sale or rent at this time or anything else to offer other than info based on my experience.