Finding lenders and mortgage brokers that specialize in DSCR loans will help with getting better terms as they have investors comfortably buying these loans after the loans fund which helps replenish the lenders cash for more loans to investors.

That said if you're looking at buying or converting into a multiunit, you should be able to at least break even with 2+ units if you're looking at doing mid-term (saw your other post).

I have gotten pre-approved for an FHA loan up to $220k.

As you mentioned, it's my business and I set the terms.

@Everyone, From your experience, what is the average ratio between labor expense and material expense for a successful flip project?   

That's a short-term metric against a long-term value.I'd put the most down, to get yourself the best rate and smoothest closing process.

They have very favorable terms built into their agreements.

Every market is different, but for the long term assumptions.

Seminole for Example has a lot of great traffic and tons of spots to eat, drink, socialize for adults and kids.I know Cape Coral is picking up in terms of STR's with the complettion of the 7 Mile Island and more construction lately. 

It’s a great market for long-term appreciation and growth, but it will be harder to achieve cash flow compared with how the Midland home is structured.