Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)

I haven't eliminated the abilit to use quarters, but I only need to empty the machines 2-3 times a year. 

They also want a priority lien on the property.It sounds like you are looking for someone to fund your down payment, I would be looking for an equity partner over debt as nobody likes to lend money in insecure positions, especially when a borrower lacks skin in the game.How much are you planning to come in with yourself?

I look for cashflow to service the debt, repairs, cap ex, taxes, and insurance while the equity grows, my taxes are decreased, and rents are increased to make more cashflow. 

Turning on the fan will also help eliminate bathroom odors and odors from harmful bathroom cleaning chemicals.Pro tip: Add cleaning the exhaust fan on your cleaning crew’s checklist during turnover.

Let's eliminate credit screening.Where's all the private landlords?

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

The main factor is will rents cover the debt liability and can you sustain 3-4 months of no income to cover the debt? 

typically (as you probably know) you buy something distressed, with either cash or hard money, you fix it up, and then you refinance into long term debt. 

We have a ongoing list of each along with their fees and what state they are licensed to collect debt in.