I have some in-house laborers for any large projects but sometimes value add can even be raising rents to market or finding an off market gem. 

Even if this works.

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).

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

For instance, even if a property has excellent characteristics, it may not rent if there is a significant amount of traffic on the street.

I don't have a lot to offer as far as money or experience goes but I do have time available to do things.

I also practice as a Realtor because I enjoy it and it is extra income.So as an investor, your options are to get your RE license and have access to a lot of tools and do the research yourself (therefore you're paying with time, energy and a little money) or you work with a great realtor/investor in the specific market you're looking into.

You can refinance into a FHA 203k or like @Jason Wray mentioned you could even use a Fannie May homestyle renovation loan as well!  

***************************************************************Ah, so much for betting on Future Appreciation. 

Even if you have an absolutely solid home and its worth over 600k, in my area the most you can rent it for is $4000 MAX.