I was the oldest boy so naturally I helped dad with all the renovations.

Distributions are being paid from reserves or out of syndicators own pocket.Syndication B: Sold a deal and achieved a 30% net to LP IRR.  

If it's tight or you're uncomfortable with the tenant you have in there from a confidence perspective, especially if this is a first deal, maybe meet in the middle and get a lender at 75% or 77% (doesn't HAVE to be at 5% increments) that wont make you season, and leave a bit more money in the deal, but sleep better.Overall, if I cash flow well, have/keep reserves, and am comfortable I fixed everything in the house, I like to max out the LTV on refi.

At 95% LTV (I would choose 95% LTV over the fha) the down and reserves is easier than the monthly.  

Naturally, she wants to be in a more comfortable environment to welcome our son into the world.However, there’s a legal hurdle.

If you have the reserves to pay yourself, I recommend to not purchase the warranty.

Additionally I want to keep reserves for small cosmetic Renovations as needed.

You will need down payment money, You will need cash reserves Money, you'll need closing costs money, and you will need to get a bank loan.

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).

Start with whatever your son's natural talents and inclinations lean toward.