Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment? 

Hi Angus, A cash-out refinance is typically not considered a taxable event for businesses since the borrowed funds are regarded as liabilities owed to the lender.

What % is typically required these days? 

**Navigating Inspections**: Section 8 inspections are stricter than typical tenant move-in inspections, and that can be a hurdle.

So while that’s a great asset you pay more for it typically.

It generally isn't worth the brain damage of experimenting though....especially if you want to move to a new home that you will own inside of the typical lender's seasoning period.

I would echo @Brandon Croucier - the secondary market for DSCR's is super aggressive and rates typically reflect that.

If the bank prices their debt based on the fed rate you typically see WSJ Prime + 1%.

Typically 75% of rental income can be applied towards your DTI for qualification. 

Typically the first set of tenants I screen are the ones who end up in the unit due to prescreening activities like my application and making sure I meet them.