Doing a bit of research I've looked up a few popular REITs and noted that those DTI ratios are within a range of 45% - 80%.

Buyer has examined the Premises and is relying solely upon such examination with respect to the condition, character and size of the land, improvements and fixtures, if any, constituting the Premises.At Buyer's own cost and expense, Buyer shall obtain and maintain in full force and effect at all times during the continuance of this Contract: (a) comprehensive liability insurance for bodily injury or death to any person or persons, and property damage insurance, in such amounts as Seller reasonably deems necessary; and (b) fire and extended coverage insurance in an amount sufficient to prevent Seller from being a co-insured under said policy of insurance, but in no event less than the unpaid balance due under this Contract.Seller and Buyer shall both be named as insured parties in the insurance policies required above, as their interests appear, Buyer shall furnish Seller with memorandum copies of such insurance policies upon Seller's execution of this Contract.

I won't know expected cap ex needs until I find the property I want to buy, but I suppose I can always budget in my savings for a certain amount and only go after properties that fall within that range.

If looking in the best rental price range around 100k you can plan on 15-25k on average.We go direct to seller and try to buy them at a discount.

It looks at how much they have in the bank (Reserves), how much they are saving annually and whether that is sufficient.  

Hi Landon, Do you have a price range in mind? 

If the property doesn't appraise in that range, I am prepared to pull cash out of my working capital to subsidize the difference.  

My current thought is to buy and rehab homes with an ARV in the sub-$100k range, since it seems possible to hit 1.5 to 2.0% rental rates.I have a great contractor on board, but there are still a lot of holes in my plan.

I'd say it's not typical.Short answer, aim for 70% financed by a bank at rates in the 4% range.

They range from meetups at projects to meetups at breweries for our new networking group BrewRE.