Our Starter plan (which is free) is really designed to support newbie investors, as all of the available presets are what they should be using in building lists and sending marketing campaigns. 

Of course you have to factor in realtor and closing costs on top.

Heck, some people might even pay more for the 'cool factor' of living in a 'small home'....I'd give it a go since you're a veteran of this RE stuff.

With $150k here you’re just a little tight on budget but can make it happen if you self-manage and do your own furnishing and design.  

@Dennis Bragg, how did you factor improvements and market appreciation into the buy-back price?

The biggest factors, from what I can tell, are age and rebuild cost. 

From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.

Vacancy and maintenance factors should be higher than for Class A or B.

The precise property forecast can vary depending on a lot of factors but the general demand is really what you should use the tool for to make your plans. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).