Cash-flowing SFR's are tough to find in this interest rate environment without value-add rehab work or a large down payment.

Whenever we're talking to new investors, the shorthand rule of thumb we share is the 50% Rule: that half of the rent will go to non-mortgage expenses, when averaged over time.

"The bidding starts at <60% FMV>"4) After you get some bids on Sunday and the open house is over, you start going through the bidder list and calling everyone bu the highest bidder offering them to outbid the highest bidder.5) You repeat step #4 until you bid up the price as high as you can.6) Meet with highest bidder and take a non-refundable deposit (specify this as a "condition" of the bid auction). 7) Close.The idea here is if the highest bidder flakes out, you still have a list of other bidders, everyone just $500 or so lower than the highest bidder.

Please give me any advice so that I can make sure I am moving in the right direction before it could possibly be a massive problem in 6 months if there were to be 2 vacancies or non payment of tenants.   

And all the tools that are out there.Ive got close to 100k cash that I can use towards a down payment on a 1br,1b condo(which seems reasonable and easier to rent near me).

Requirements for a DSCR loan is a down payment and a credit score.

I am trying to raise money from Friends and Family for putting together the down payment needs.

For $2,000 which was loaned to me from a friend for 90 days for $200, I gave an attorney a cashier's check as a down payment.

Not saying all tenants are bad, as most of us just want to make our rent payment on time and live our lives - but don't be surprised if you run into more headaches vs. spending a bit more money up front for peace of mind later on with placing better tenants. 

If I assume NO property value change, in 30 years, the WH property will have turned $383K (down payment plus $800 monthly negative loss of running the property) into $459K.