There is a range of DSCR lender underwriting policies for "1st time investors" - some don't allow it, some do with no restrictions, and some in the middle (typically cut max LTV by 5% or so and restrict against anything over 4 units)Also - check out these BiggerPockets articles for a ton of info about DSCR loans:DSCR Loans: What Are They And How To Get The Best Termshttps://www.biggerpockets.com/...DSCR Loans: How To Use Pro Strategies To Save More And Make Morehttps://www.biggerpockets.com/...Multifamily DSCR Loans: A New High-Impact Loan Option For Real Estate Investors?

Depending on what price range you're looking in, you might be a little tight on funds.

Temple is not part of the Austin metro area, but within a long commute range for a few.

Depends on really what you are looking for:-Speed - some HMLS can go "no appraisal" so can close very quickly and beat cash offers if you are in a competitive market to buy-Interest Rates - can range anywhere from around 8% to 13% (same with "points") but not usually as huge of a concern for flippers since the terms are so short-Leverage - depending on your risk appetite / capital - this is also a top concern for some (almost always over and above rates/fees) can see anywhere from around 80% LTC to even mid 90s LTC (including 100% of rehab budget)

They are business notes backed by our portfolio of 10+ businesses which does include some real estate.The note returns range based on investment but is double-digit. 

We found ourselves wasting an obscene amount of time doing our due diligence where we doubt that the vast majority of bidders actually understood the costs involved in the rehabs.

Lastly, looking to buy a commercial real estate deal either self storage or a mix use building in a secondary market with 6 cap and around $5m purchase range. 

Would the fact that our house is in the ~ $850k valuation range influence your advice? 

The property is in Joseph Lee and in the 250k range (but it is a duplex) The PM is downright awful.

My total expense ratio on each property I own ranges anywhere from 40%-50% annually, but I also self-manage and am not a slumlord (I am pro-active with maintenance, not reactive).