We thought about hiring a lawyer but the legal fees were expected to be in the range of $10k to $15k and would have taken months (if not years).

I passed this additional charge onto our borrowers without any objections, making the total doc fee $1000.There are other companies that provide automated loan docs.

They are business notes backed by our portfolio of 10+ businesses which does include some real estate.The note returns range based on investment but is double-digit. 

Your best bet is to read information from public blogs that approach both options objectively.

My thought is: I find one worth the money in the $10-12k range, buy it outright, live in it (in the park) for about a year until I save enough to get another one, then rent out the first one.

Property details: 3 bed 2 bath both sides with attached garages, aluminum siding, copper plumbing, 1972 construction, separately metered, all electric water heater, range, dryer, public water and public sewer on a slab foundation in a great school district right next to brand new construction everywhere.

How can I effectively address the concern of losing Airbnb reviews when convincing a potential client to switch from Evolve to my local property management company?

There is a range of DSCR lender underwriting policies for "1st time investors" - some don't allow it, some do with no restrictions, and some in the middle (typically cut max LTV by 5% or so and restrict against anything over 4 units)Also - check out these BiggerPockets articles for a ton of info about DSCR loans:DSCR Loans: What Are They And How To Get The Best Termshttps://www.biggerpockets.com/...DSCR Loans: How To Use Pro Strategies To Save More And Make Morehttps://www.biggerpockets.com/...Multifamily DSCR Loans: A New High-Impact Loan Option For Real Estate Investors?

All 3 will give different amounts/ranges. 

We will use the high end of this range ($100k)   This implies the initial negative equity position is $150k  $150k (initial negative position)/$350 (cash flow) takes 428 months to recover the initial negative position (35 years).