that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

These are amortized payments that include a return of principal each month.

Def dont want some manual emailt tracking from their attorney, would be super basic.Told them id be putting principal payments in it here and there, so want to make sure that is all included, just interest only is not that good. 

Previously I'd always used Stessa, which has a great Net Cash Flow statement view, breaking down the usual income/expenses, but also includes a section for Interest/Principal, and another section for CapEx. 

Professional Deep Cleaning – Before listing, he had the property deep cleaned, including carpets, baseboards, and bathrooms.

Some mortgage providers that I've found include Milo, BlockFi and Alchemix.fi.

Allowing pets, including the dogs nobody wants (excluding pitbulls, unless your landlord policy specifically covers them), will give you access to qualified tenants that otherwise can't find places that allow them. 

What is your goal and more importantly what is your WHY?  

Hi @Raymond Kalonji I would follow what all have said here, but I want to highlight one thing while working with section 8 or any other tenant is very important "timely communication".