If I were to do a traditional VA loan, the loan would be close to 7%.Below are what I understand to be the numbers so far:Seller purchased the property in DEC 2022 for $1.13M (owned for 2yrs)Current estimates are Zillow= $1.26M/  Redfin=$1.323MOur agreed purchase price is $1.25MSeller financing would be $120k @ 8% for 3yrs.No commission cost.Small percentage of fees/ costs in the tune of 1.5% of loan amount.Let me know what you think and if you need any additional info.

For the 700 credit score you could take 1 month's rent as a deposit but for the other 2 you could take 2 months (as an example) due to the risk factor. 

Factor 8%-10% for a reliable property manager (use AllPropertyManagement.com).After that, you're golden.

We have been working to be extremely conservative with our estimates but with this being our first go at this, any additional expertise is greatly appreciated! 

I'm not satisfied with not filing the rental in an LLC simply because it's more simple and might cost me an additional filing fee .

What I found was, yes it was nice have additional income, but each project seemed to always interfere.

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).

Lots of factors in every location. 

Also, the benefits of a cost segregation study can vary based on a multitude of factors.

After some additional research we have decided to focus on the aforementioned markets, but I will keep you in mind if we decide to look at Columbus more closely in the future.