I believe we have underwriters in this forum - just wondering how underwriters analyse their COMPS even after we listed the best 3 as Apple to Apple - though more than 1 mile BUT  within the same market bcos most COMPS considering SOLD properties around your subject property would be the same as those that needs renovation.

I’d love to meet up in the Burnsville/Apple Valley area.

It's important to spend the $40-100 for one month to review the data and be able to filter number of bedrooms and how many it accommodates for apples to apples. 2.

Very good tax climate, and landlord friendly combined with strong economic growth with tech companies like Apple and google building data centers, Tesla is building the semi-truck factory and a exodus from CA of people all point to strong signs of appreciation. 

As for this deal, there are about 10 GPs and projected equity multipler is 2.3x, 5 year fixed rate with Fannie Mea at 5.6%, 3 year IO and 1-2% pre payment penalty.

We have cash reserves for renovation so I don't need funds beyond purchase.Pros and Cons for DSCR loan in this situation.Thanks, Pete One thing to always run the numbers on is the actual monthly payment regardless of rate - i.e. on DSCR Multifamily Loans you could definitely get an Interest-Only quote on a 30-year fixed where the first 10 years are IO, so even with a little higher rate, the monthly payment may actually be lowerCheck out this comprehensive article published here on BP on you exact questions (Multifamily DSCR Loans with pros and cons)https://www.biggerpockets.com/blog/multifamily-dscr-loans

Spoke to @Bobby Feinman this week and he's got a 12 month I/O product for rehab-to-rent where they lump in the majority of the rehab costs, if I'm remembering right.

Apples and oranges.

Analyzing a house hack like a traditional rental is not comparing apples to apples.Expecting a high CoC, cash flow, or even breaking even with today's interest rates will likely leave you on the sidelines.And unfortunately, I wouldn't be shocked when rates come down that prices will likely be quite a bit higher.

@Josh MacThese usually float with the prime rate so factor that in too, it's 8.5% currently but many offer IO for repayment which can be attractive for some.