I have a great credit score, good stated income, and about 50k worth of personal credit to my name already, so it was relatively easy to get approved.

I was looking at DSCR loans because they don't require extensive checks like the bank loans and they "only" look at the income generated from the property to qualify for the loan.

Higher property taxes in Worcester, coupled with a lower average household income, make profitability more difficult to maintain.

We’re actively working toward building a real estate portfolio that will generate passive income and create financial security for our future.

Additionally, the property includes an outdoor swimming pool.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

You also need to accommodate tenant schedules for showings.Relisting later might reset your listing's visibility, but delaying could cost you more in lost income.

Everything I bought is up 2-3x and last year I had net rental income on my taxes of $86,000.

I'm a local youth pastor in MN and I'm looking into getting started in real estate so that I can provide extra income for my growing family.

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.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?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.