Would depend on the loan amount size.

Of our 50 plus loans about 10 went into default in the financial crisis of 2008.  

If the loan amount exceeds $1M, then rates are in the high 6's to mid 7's. 

I'm sure that is true, because most mortgage companies aren't going to go searching for issues when there aren't problems - but in the truest sense of the word this is loan fraud and I'm just not up for it in my portfolio.I did hear from a friend of a friend type that she was able to close a subto with a small local bank somewhere in Georgia (property was also located there) because of a long standing relationship with the bank. 

@James Trobaugh in either situation, you could use an FHA loan.

Technically, not all lender would approve a DSCR loan for someone who has not owned their primary but there are some lenders who do lend to FTHB a DSCR loan.

You can get a second mortgage to go with the assumable loan.

We're currently saving up enough for a 20% down for a conventional loan to bypass having to pay for PMI and MIP, as these 2 additional monthly expenses are a "make it or break it", in finding a cash flowing property in California.I would love to know what your story was like when you first started your real estate investing journey!

This will be the first loan for me. 

I’ve spoke to Lucas and ended up agreeing that in my particular circumstances - there wouldn’t be enough of a financial increase to outweigh the additional labor (Albeit as small as it would be).