However, in Fayetteville, AR (where I moved), the "leasing season" is in the summer.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

Conventional would work too, but you would have to wait at least a year on seasoning, DSCR is only 6 months.

I have a similar background (but am much older) and did not start growing my own personal portfolio till I was closer to 40 and in less than 10 years I could sell all my real estate and retire if I wanted.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

If the house is older than 15 years old and an ADU is added, it can become rent controlled.

Good luck to all of us = )   Actually I'm a partner with 2 other seasoned note investors and we have our own Reg D equity fund that buys 1st position NPLs and RPLs with a preferred return and profit split to our investors.

A while back I was listening to an older episode of the Bigger Pockets podcast back Michael Greene was still hosting and they talked to an insurance expert. 

I'll add that for the cash option, you'd need 8-10% cap rate properties which, even in the Midwest, will likely be older Class C/B- product where there is greater risk of higher maintenance and delinquencies versus newer/nicer builds.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.