Now they added 2 additional security.

I speak with friends and clients daily that are considering selling properties acquired in the last few years for one reason or another.

Conventional financing, buying with cash then refinancing after rehab, partnering if needed, heck even using hard money might be preferable here rather than taking on the additional risk of using subto, without much benefit because of that high rate... 

BTW - I'm looking to acquire 5-10 STRs in the Royal Oak/Birmingham area north of Detroit.

On that playing field, everyone's costs go up just to stay in the game, only to end up in exactly the same place competitively.Better to spend the money on acquiring (or trading up to) properties with really defensible differentiators like a great view, great location, or lots of bedrooms.  

It is always wise to have some additional capital on the sidelines to help advance your projects rather than relying solely on the bank draws but one month is beyond reasonable.

Additionally, for rate-term refinances, many DSCR lenders have no seasoning requirements at all.Easier qualification: DSCR lenders have much lighter qualification requirements than conventional or portfolio lenders, such as no DTI, income verification, or tax return hurdles that can slow down or disqualify loansFlexibility: While conventional and bank lenders are heavily regulated and follow standardized rules, DSCR lenders have much more flexibility and control over their guidelines.

Now my own mortgage is paid, new HELOC and new property mortgage is paid which leaves me no additional cash flow.

These initiatives make it easier for you to purchase a property with less money down, increasing the viability of house hacking.Strategic Property Selection: Pay attention to assets that offer prospects for value addition and have a high rental potential.

Now, I am acquiring rental properties to build my portfolio.