If you're using a DSCR loan to purchase the home, most lenders use the lower of the lease agreement or 100% of the market rent from the appraisal form 1007 to determine the DSCR.

Lots of great info on here as well, and like they're saying the best thing to do is to find an experience broker / realtor who can help you navigate which neighborhoods to target and which ones to stay away from, as well helping you to build out your team for property managers, lenders, inspectors, contractors, ect.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

As a lender, I see multiple parties signing a mortgage all the time.

My budget will be around $200k but I’m meeting with a lender on Tuesday to go over all of my options.

Yes you can use commission as sourced funds for down payment on a conventional loan.However some lenders have internal overlays that don't allow it.

Since you're open to markets beyond NYC, you might want to connect with local investor meetups or REI groups in those areas to build relationships with agents, wholesalers, and lenders who understand the nuances of each market.If you're looking to break out of analysis paralysis, maybe start by narrowing down one or two target markets and running numbers on actual deals.

Where can I find a list of hard money lenders

Some lenders specialize in this area.Legal and Tax Implications: Consult with a real estate attorney and tax professional to understand the legal and tax implications of owning an STR in a different state.I'm happy to answer any specific questions you have about my experience.