Is this a true 10% cap or is this what I refer to as the "realtor special" where taxes, insurance, water and a nominal maintenance budgetary number is included.

But I've looked at the rates of 2 PMs so far and both charge 10% of gross rents + 1mo rent on new leases + a BUNCH of other fees (I'll include more details as a comment to give an example).My question is: is this standard for the Cleveland market?

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

Most of this was done by our property manager (Neighborhood Property Management), but they have a good website (Housing Choice Vouchers), including a specific section for interested landlords. 

This should include details about your investment strategy, expected capital injection, risk management measures, and potential ROI.Networking Events and Meetups: While leveraging online platforms, don't overlook the power of face-to-face interactions.

If your goal is to simply reduce your closing costs, I would recommend shopping this loan instead.

The first is, what is going to reduce possible water damage.

definitely look into private money debt funds then  I appreciate that, but I have a wide range of financial products in my portfolio including quite a bit of debt funds.

Hi Adam, Since the immediate area may not have many comparable properties, consider expanding your search radius to include neighboring areas with similar characteristics, such as proximity to amenities, major roads, and parks.

You can always include rental expenses on your tax return if you have a rental property that is deemed in service.The question, when summing all your rental income and expenses, and you are net negative, is whether the loss can offset your other forms of income or if the losses are deemed passive and carried forward.