Will my depreciation be based on the purchase price or what it is worth now?

@Kaleb Phillips an agent promoting their industry, no surprise.Problem with it, is that agents are transaction based. 

You can only fund it with rollovers from other qualified accounts or by making contributions based on your earned self-employment income. 

DSCR financing is based off of rent/PITI and your credit score. 

@Karen ChenailleI really like doing the algorithm based cost segs for under 1M rental properties.

The builder will need to be approved by the Bank/Lender or the bank/lender can provide you an already approved builder they have used before in that County.Once the builder is approved the Bank/Lender will have a initial meeting and set up an agreed upon draw phase based on the work that will be completed in phases.Best thing to do is have a conversation with a seasoned Banker or Loan officer to start an application and set up step by step plan.Feel free to reach out if you have any questions I am always happy to help and talk REI.

Every investor has my direct cell phone number as every introduction call is conducted from my personal cell number.

DSCR if the house can support itself based on the lenders criteria.  

Make sure it is clear you're a interested in buying their house ASAP with your phone number very easy to see.

I am based out of Janesville, but spend quite a bit of time in Madison as well.