And then payoff the home equity loan about less than $60,000 within 2-3 years.Thx.

We would be looking to use a conventional loan.

You can use a DCSR loan alternatively, or as I love to do; buy homes using seller financing.

Can I use a DSCR loan for these homes?

Anybody on the LLC or the operating agreement can qualify For the loan. 

Are there very loans I would have to use?

Hi @Somesh MukherjeeFellow lender here - Not sure where you are in the process but as Matthew said - location is top priority, not just in terms of the tenant pool but depending on the loan program you're seeking (say DSCR), the comps in the area can also impact your appraisal and what rate and term you'll qualify for.

Personal loan for the rehab.

Here is what is being considered:SCENARIO 1):1) Parents loan us money at X% rate.2) Loan terms would allow for early payment without penalty (we would get a conventional loan in 2-5 years to pay parents back). 

ROI do not take into account time value of money (selling the asset at year 8 instead of year 2 at the same price, your ROI is relatively similar, but your IRR is far from being the same).4- LEarn to analyze your portfolio: aggregate altogether all your assets and analyze if there's any project cash flow that would be required (balance of sale, loans, etc).