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.Our OPINION for the Metro Detroit market (always verify each area for yourself!)

also interested in this, similar financial situation and having trouble narrowing down to a state let alone a zipcode

Here are some of the types of “wanna be” investors who never seem to be able to “pull the trigger:”The Organizer – This individual can’t seem to ever get fully organized - and until they do they can’t possibly make a purchase transaction.

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.

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.

@Matt M AntonioFinding a lender who understands and specializes in working with self-employed individuals, especially in the context of Non-QM (Non-Qualified Mortgage) products, can be crucial in your situation.

.🏠 I got interested in real estate investing after listening to financial independence podcasts a few years ago. 

I would love to connect with some new individuals here on Bigger Pockets.

On this property, though, the prior owner bought it and mortgaged through a bank that went under during financial crisis.  

It's great to see your dedication to learning and researching, as well as your commitment to improving your financial situation.Regarding the mobile home duplex you found, it seems like an interesting opportunity.