The article below sheds light on how DSCRs come into play with the BRRRR method.

Its a long term low cost play for me.

@Marc Shin I like the idea of a dusk photo of it’s the porch and maybe interior lights on.

I joined this community because I want to get my hands dirty and not just meet people online but form some real connections and try to provide value back to those that are willing to offer me advise and guidance, and even encouragement.So, this is my current situation:Back in 2020 I was one of the fortunate ones who purchased real estate when prices were still low (compared to today) and interest rates where at 3% or below.

Hard to give up such a low mortgage rate, but in the end that's small potatoes compared to potential OOS problems.  

. - This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

Your best bet since your working on your capital are going to be to use low money down hard-money lender.

Does anyone know a lender willing to lend on 40k with a day out of foreclousre up to 50%LTV with a low 500 credit score?

If you had priced it 50% higher, it would probably be sitting vacant several months later.We have a property near several low-income apartments. 

Here is your tip:Buy low and sell high, also don't eat the yellow snow.