Larry, If I’m following your math, you need to find a way to increase your income outside of the rental property to cover the mortgage+heloc $1500 payment.

Easiest way to ripoff an OOS investor is to sell them a Class D rental with a S8 tenant that was enticed with no app fee, no security deposit and really no screening.

Yeah you can't have a homeowners policy for a STR.This is better than finding out they won't cover you because you were renting it as a STR after a catastrophic event.

Hi Peter,The fact that DSCR covers at 1.0 with 20% down in a A class area is already a really good sign.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Or in other words, the rent received from house hacking would cover our housing costs (mortgage, property tax, insurance, repairs, utilities).Upon research however Oahu seem to be a high cost and low cap rate area similar to SF where we currently live.

The Florida safe harbor seems to be a giveaway to the banks, since a regular purchaser must cover all outstanding dues, but the bank can claim the safe harbor benefit.

Screen tenants - Implement thorough tenant screening processes to minimize risk of vacancy and potential rental income loss.4.

Secondly, DSCR loans offer favorable terms and lower risks, as they assess the property's ability to generate sufficient income to cover debt obligations.

Is there a master policy with the association that covers the structure?