They told me no tax returns and its financial statement based lending on commercial side, curious if they need to be done by CPA?

Hi Amanda, DSCR loans are becoming a popular financing option for investors since there are no restrictions on the number of loans you can have, and you can qualify based on the rents covering the full mortgage payment, no personal DTI needed. 

The rate and terms you received on your loan are based on how the lender underwrote your occupancy.

As @Daniel Sperling said, either get a standard contract that you can edit from a realtor you know or pay a local attorney to draw you up an air-tight contract that you can re-use once they know your goals - direct to seller, wholesaler, etc.The worst thing you can do is show up with a half-page doc for a seller.

One property is a condo (in CA) that I rent out, and the other property is a house (in NV) that I live in and rent out the other rooms.I quit my W2 job last year to start a business, which is slightly profitable today, but I reinvest everything back into the business.I have a bunch of cash saved up and am comfortable deploying $100K into another property in Las Vegas ($80K down payment + $10K furnishing + $10K margin).The only problem is that I’m not sure how to finance my next house without W2 income.I talked to a few lenders about DSCR loans, and most say they calculate rental income based on the entire house, instead of by the room.I would love to get the creative knowledge of the BP community on how to fund my next home 🙏🏼I'm also open to any lender referrals 😊

If the loan isn't full note interest you wouldn't be paying monthly on the rehab money until its actually drawn, if you never draw the money you won't owe it at the end when you request a payoff letter.

I also raised my prices to a base of 150 from a 120 and my minimum is now 120 a night.I cash flow a great amount but should I try and get more?  

Pricing - most bookkeepers I know are transitioning to flat rate pricing that includes software costs, based on the complication/volume of your business(es).

Keep your options open, adjusting plans based on appraisal outcomes, and remain agile in your approach.

But you can still treat it as resulting in Ordinary Income even though it is reported on Schedule E, which lets you properly report in accordance with the tax results it seems you are shooting for under the tax return loophole.If your CPA is looking at switching it between schedules to get that tax result...it sounds like they don't understand the reporting position fully and/or they just don't know how to use their own software to address it.In summary, based on what you are describing for the situation, it should go on Schedule E, with what sounds like the resulting refund of $17k.