As much as we would love to invest in the warmer States it seems as if the MidWest is the place with the best returns. 

I think you need to find a good local agent, network with investors(local meet ups, FB groups, etc) and learn more to dial in the gameplan. 

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 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Two repairs can often cost as much as a new unit, and manufacturer warranties can be a headache to use.

He believes he can find all that he needs to know on the internet.

Make sense with our need for inventory nationally, but this is also very market dependent.     

I think we can reduce our spending quickly if needed.

Need more details. 

I don’t know how much initial equity but if your guess is right 10 cents on the dollar is about right. 

I didn’t think the downstairs needed it.