Since you’re based in NY, Detroit is just a short flight away, making it feasible to visit and get a feel for the market and the team you’d be working with.That said, I’ve worked with plenty of investors who have never actually visited and still built successful portfolios—it really comes down to having the right boots on the ground.

Based on my current savings rate, it would take me about 3-4 years to save up enough for the down payment on my first investment property.

Some of the other lenders mentioned in this thread are more so private lenders / hard money lenders and while they may underwrite based on DSCR, I don't think it is the DSCR loan you are looking for.

Thanks in advance,AaronWe use Fudge insurance which is based here in Orlando and specializes in Orlando area STRs.

What is the $1,700/month based on, and which neighborhood is this?

Unlike Robert K and many on this site, I judge a property based on total return.  

The information provided is based on my experience and industry knowledge but should not be considered legal, tax, or financial advice.

While I don’t plan on flipping the house, I intend to use the property for short-term rentals (STR), and based on my research, it seems like it will perform well either as an STR or a long-term rental (LTR).Any ideas on how I can source the financing or recommendations for better lenders would be greatly appreciated!

I’m a new investor based in Kingston, NY, with a focus on the Hudson Valley and Catskills regions.

$25k is only 4.16% of your new purchase price, heck of a deal.Thank you for your service and let me know if you want to talk any more details and run actual numbers based on your situation.