I invested briefly out of state, and while I made money, I wasted a lot of time chasing returns.

Someone has a gas stove and the new rental only has electricity; someone has a 33 in fridge and only a 30 in fridge fits; counter space is cut for slide in, not drop in; etc.

There is a range of DSCR lender underwriting policies for "1st time investors" - some don't allow it, some do with no restrictions, and some in the middle (typically cut max LTV by 5% or so and restrict against anything over 4 units)Also - check out these BiggerPockets articles for a ton of info about DSCR loans:DSCR Loans: What Are They And How To Get The Best Termshttps://www.biggerpockets.com/...DSCR Loans: How To Use Pro Strategies To Save More And Make Morehttps://www.biggerpockets.com/...Multifamily DSCR Loans: A New High-Impact Loan Option For Real Estate Investors?

If you thinking there is some "giant" "fat" to cut out of Real Estate transactions I'm sorry it just is not true.

There is no short cut. 

So as investing partners it makes sense because we will both have extra cash at the same time, we partner up to cut the risk in half + we both specialize in a couple things the other does not in terms of being a rental property owner (e.g. running the books + marketing vs actually fixing things).  

Think I was just tired when I posted that and after I posted I was thinking it was a waste of a post since it can’t be done anymore anyway.I think a good option was as Jay mentioned, to buy with cash and refinance later.  

Don't waste your money doing turnkey OOS.

Then, run a rental stress test on the new STR assuming a worst-case scenario—like converting it to a long-term rental with a 30% cut in future rents.

I don't want to pay the water bc with DWP sewer surcharge and solid waste surcharge are included in the bill.