Hi Zhengyang,Conventional loans (residential) look at your personal income (like tax returns) while DSCR loans (business purpose) look at the rental income.

Everything comes with a risk but I want to hear everyone's opinions for both states in the long run, thanks in advance It really depends on your style and goals and type of investing.I invest in multiple states and there can be some substantial differences.First decide if you want to do Flips, Long Term Rentals, Short Term Rentals, Shared Housing, Multi Family, Land, Tax Deeds, REITs, Syndication, Commercial and then decide. 

We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it.

The taxes and insurance sound like where we are in St Augustine and NY. 

So many variables can turn a deal sideways from 1 hour to the next - i.e. inspection findings, title issues, contracts, financing issues, taxes, dept. of buildings/local municipalities, etc.I'm glad to hear you made it through the challenges, and it sounds like you'll be able to leverage this experience as you grow your portfolio.All the best to you along your journey!

IF you need 100% financing and lets say its $200k deal, the lender will be interest only at $150k at 12% = 1500/mo + taxes. insurance etc.

DSCR lenders are much more flexible with income requirements and don’t require W-2s or tax returns.I’d be happy to connect and chat more if you’re interested!

To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.

.: Hello,I'm new to tax/mortgage surplus funds retrievals, and have been in contact with a homeowner who is willing to work with me.

Positives are proximity, low property taxes, no income taxes, no weather events, very low maintenance stucco/tile structures, “young” properties (5-20 years old)