You could do 50% loan / 40% carry / 10% down (+ fees/closing costs). 

This includes the rental income, PM fee, any repairs, etc.

However, two oversights have affected my calculations: (Both dumb mistakes I can only blame myself for)Higher-than-expected property taxes and municipal fees in University Heights compared to Cleveland proper.Overly optimistic rental income estimates.After adjusting for these factors, including property management costs and other expenses, the revised cash-on-cash return is about $12,000 annually, slightly over 5%.

Ex. you normally do STRs and you are looking to finance a mixed-use multifamily deal, and you don't mind paying the 2% in broker fees to lock down financing.

So there is an additional cost but it's typically much less than the fees charged by the OTA platform.

The average lender probably charges in the $1,200 - $2,500 for their closing costs, while title/escrow has their own fee's to insure the transaction (in Texas we are promulgated so our title fee's are pretty straight forward, no clue in MD). 

No one can tell you the potential value of the lots without knowing the site development costs, city/DWP fees and what the homes could ultimately sell for. 

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.

I contacted a title company to officially record the sale, but they are requiring 3 separate closings (and tons of extra fees) because there will be 3 liens/private mortgages recorded (one is the original mortgage that I want to reassign since the interest rate was very low; the second will be held by my son to my daughter for his portion of the equity in the home; and the third is the difference which will be between my daughter and my other LLC). 

@Brittany RogersonYes, you would want to work with a fee based or fee only financial/wealth advisor both have advantages over a traditional advisor.