:) G'Day Zair,Just commented the same to another fellow looking to do something similar to what you are.I think that BRRRR from out of state is very risky business.If I was you, I'd continue immersing myself in everything and anything real estate related.Come back home to the US and start in your local market.Using leverage should only be reserved once you already know what you are doing and you have experienced the income/expenses over a few year period.I've always believe that "Cash is King, Cashflow is Queen and Finance is the Peasant" lolIn your local market or a market of your choosing you can buy, fix and flip or buy, fix and refinance.But I suggest you buy, fix and flip until you have enough cash reserves to buy, fix and hold without it affecting your cash position for future deals.Build a strong foundation without leverage and only then start looking to refinance or finance.30-50% of your portfolio should be un-leveraged.It's a slow process but all good things take time.Just my opinion and wishing you much success

I use Excell to keep up with income and expenses and any repairs or improvements. 

It will also use 75% of the rental income of the subject property as long as you have a current housing expense.

It is a better than average property and is netting 70k year and growing. 

They're quoting me less than a 1% more than the average owner occupant rate. 

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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

As well, beware the inflated “average rent” stats in Padmapper because they include AirBnB listings...still good to use once u filter those out. 

The average down payment on seller financing is 25%.

They may be living there for free during the foreclosure/eviction process, and you'd still need to cover your expenses on the property out of pocket, and foreclosures can take many months or even years, and the property may come back to you in much worse condition than it is now.

If so, you should already have as pretty good idea of which capital expenses you will face in the future.