Max LTV should be 75%LTV based on the basic factors, credit & DSCR. 

The deciding factor was talking to a neighbor who bought his house for $140k in 1994 and now it’s worth $640k.

Fees?

Another benefit to doing this in a place where my family is though is that it is nice to go out there every once in a while and not have to factor in hotels/places to stay. 

I'm also looking for oneIf i could chime in and help in the search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

You can pay off the senior mortgage in full (plus the other costs and fees in the judgement) if there's any equity or lose the house.  

We've got to raise it, but we don't want alot of moveouts all at once, have to make a lot of repairs to rent given some of the capital demands we've just had (more surprises), so we're going to evaluate the properties and to check on those factors.

If there are additional expenses they need to be taken into consideration such as if you are paying for water/sewer, gas or oil, trash, plowing or lawn care, HOA fees if there are any, CapEx, maintenance, vacancy, mortgage, taxes.

Then you would have realtor fees and closing costs.

I received an $18k finders fee from him, all for simply finding a lead online for him!