I will give you some of my highlights.People in Texas complain about their property taxes at 3% ours are about 4.5%.New York in general and Monroe county specifically are very tenant friendly.Depending  on the town, the code inspectors/police can be quite anal.Since Covid and the 2020 protests we’ve seen an increase in crime in the city and therefore weakening demand in the city proper and increasing demand for the suburbs.Industry is well diversified—University of Rochester (medicine) L3Harris (defense) xerox (IT) and paychex (software/hr)) and relatively recession proof.Population growth is low and therefore appreciation (except the past 4 years) has been moderate as well.There aren’t many builders in the area so supply is relatively fixed.Home (and rent) prices are both affordable with homes typically being less than 1/3 median household income and rent being similarly affordable.For single family homes at 8% rent will cover piti with about 100$ to spare in the A areas.

If you don't have other income and want to tap into your home's equity, you should use as little as possible.

@Mikal MAxim   If your debt to income ratio including your rental income on the subject property is under 50% and you have good credit you would likely qualify for a conventional loan.

After a closer look into the disclosures, it turns out that the ADU (permitted, junior ADU) was being rented for supplemental income on Airbnb.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

I was using Stessa before but it didn't allow you to account for other income and expenses, like salary, groceries, ect. 

This property will lay the groundwork for all of your future investments, just think about how much income this home will generate over the next 20-30 years! 

If I tried buying that property today, the expenses would be significantly higher than the income and it would be a bad investment.

I know a guy out in Baltimore flipping and BRRR'ing in the lower income neighborhoods and making a killing, but he's got his system down solid.

Instead, they typically employ a sales comparison approach to determine the property's worth, using the income to calculate the DSCR, which usually needs to exceed 1.0 for most lenders.Assuming you have a solid track record with the property and there's enough equity in the deal, leveraging the After Repair Value (ARV) on a sales comparison evaluation could enable you to refinance into a bridge loan until the necessary work is completed.Maybe a mortgage broker specializing in traditional loans could offer insights into construction-to-permanent loans