My husband and I started investing in real estate in 2019 and quickly became passionate about helping other's create financial freedom through real estate which is our mission.

This criteria is for 1-4 and 5-8 unit programs.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.

The listing agent should have all the info available to potential investors that they'll need to make an informed offer however including rent roll, financials, photos, proforma, sometimes current leases redacted and sometimes (more rarely) even a recent inspection or pre-inspection, etc. 

Something else to consider is your current financial position as construction/renovations requires capital. 

There are other non-QM loan options for self-employed individuals that can use your bank statements (biz) to show cash flow versus, tax returns for income.

I am excited to gain more knowledge, connect with other individuals within the industry, and take the next step in this journey! 

U can keep trying but as stated your best bet is a financial ( cash partner) and then you have to talk them into why they should give up a bunch of the deal to you.

Given our financial constraints at the time, we couldn't afford such a high sum for limited coverage.I'm told that the lapse in coverage for the few months between being dropped by our previous insurer and attempting to get a landlord/investment property policy will make if VERY difficult to get a policy.I'm not sure that my agent really has much experience in insuring investment properties/rental properties.I reached out to Arcana (now MSI, and they forwarded my a list of agents/reps that could work with me.My question is: Are there any other places I should be looking to obtain coverage?

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)