Fortunately it never came to that and I was able to scale much faster than I could have without.

Let me know if you need an agent!!!

If you don't need the cashflow then you could throw it at the loan balance.

Let me know if you need any help!

Then you need to get your costs in line with theirs.

I was drawn to this deal because it aligned with my vision of revitalizing the Morganton community by creating much-needed housing.

First I got preapproved (I know... another lender saying to get preapproved) of course it was important to my realtor and offer, but more important it gave me insight into what I could expect for cash needed, payments, etc. 

We just acquired a duplex that (at closing) was supposed to need about $4K in mold remediation.

No one is going to insure you with knob and tube so you need to focus on selling or doing the rewiring.

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).