Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Its better to buy assets that will appreciate ( historic ) and be break even or a little negative. 

The initial heartburn of lost reviews will likely be negated by more bookings (because guests don’t often like booking from large companies like Evolve) and hopefully better reviews with you as PM.

what i'm finding is that, if i BRRRR successfully and then refinance into a DSCR loan, almost every property is break even or slightly negative. 

.: This forum is a cesspool of misinformation and negativity when it comes to notes.

That is awesome, but also why you have negative cash flow.I think you are using OPM in the wrong context here.

Just based off statistics the vast majority of people (nevermind the vast majority of RE investors) will never replace their W2 income w/ RE income.

So I would start closest to infrastructure and work my way back.I would also pay attention to crime statistics and try to go for the least amount of crime relative to the area

LOC's can have negative effects on your future purchasing power if not set up correctly and keeping in mind you can "never" use an LOC as a reserve or asset.It will always be a debt burden and can over inflate your back end debt ratios depending on the W2 income and your liabilities.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.