Financing is important but your realtor will absolutely be the determining factor whether you purchase correctly or not. 

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).

This will help you understand the qualifying requirements, key factors to consider when purchasing, and how to assess whether a property might be a good investment at first glance.

Tenant providing access is ideal.

Is it fairly priced for the size, location, quality, and other factors?

You're better off focusing on specific markets, specific neighborhoods, analyzing numbers, and building an ideal buy [box].

The cash on cash number is what I liked about it and I think the Capex will not be a big factor because of the Tenants already are there and have been there and want to stay for long term so vacancy was set lower.

Factoring market conditions at the time of refinance, I negotiated a lower rate and conceded a lower term anticipating rates to normalize in the 4%-5% range by 2026.

Some of it can be temporary, but ideally you'll want to be in markets where it can be sustained (ie. have barriers to entry). 

Around year 7 or 8, ideally year 10, re-assess your equity and maturation of those debt notes and re-adjust how you invest to suit your needs.