Would it be smart to tack on another 203k in the future assuming my income covers payments?

Estimated costs range from $500–$1,000 annually, depending on the complexity of their LLC and rental activity.For Partner 2 ($148K joint income, W-2, 1099 income, 1 rental, 2 kids), a CPA is strongly recommended.

Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Understand what you are investing in....is it a secured loan, unsecured loan, membership interest in an entity that deploys capital like a feeder fund or direct membership interest in an entity that is the deed holder? 

More on DSCR loans: DSCR loans won't use your income to underwrite the loan. 

To boost income, consider mid-term rentals (travel nurses, corporate stays), renting by the room, or adding value with minor renovations.

This rental income may not be included in effective income. 

I want to have more rental properties in the future and could definitely use that income to help fund those, but with the interest rates being higher, it makes me nervous.

You’re going to deduct the rental mortgage interest against your rental income and your personal mortgage interest (if allowed and more than standard deduction) against your regular income.

DSCR loans won't use your income to underwrite the loan.