Basically looking for a pretty simple template that specifies the renter details, duration, and acknowledges they will follow the rules for my condo association.

Is this a building you see yourself owning for an extended period of time and/or if you were to sell the building will there be a satisfactory return on the heavy lift capex  investment that's necessary?

But if you buy four $200K houses then it's apples to apples and you're not going to fall behind.For what it's worth, I'd be concerned that if you over extend yourself buying a primary home you'll create a larger scale issue than just being house poor.

Depending on the intention and duration of the borrowed capital investors should be aware of the exact penalty terms and options to reduce costs if a sale of refinance of the property is expected within 2-3-5 years. 

It is very very rare for a DSCR Loan to have a prepayment penalty duration more than 5 years2) Generally this will range from 5% for the entire period, to a "descending penalty" structure which is very common - such as "5/4/3/2/1" where its 5% first year, 4% second year, 3% third year etc. 

@Robin Cornacchio  Theoretically you could but your ira doesn’t have any credit so nobody will likely extend credit to it. 

I plan on extending my wings far and wide in terms of location.

Your service grants you a great opportunity and your VA benefits can extend to multiple properties and you can discuss that with your VA lender.

Once your construction loan starts, most banks will not extend any more credit once construction has started.  2.

With that said you're heading for success, RE investment is about duration.