I was recently informed that there are portfolio lenders that don't do a credit check, don't require an appraisal (possibly BPO), or tax returns, etc and are truly asset based.

I would deal with, or avoid a similar situation by:Having a strong contract at the outset. 

If they report to the credit bureaus it will affect your DTI as your DTI is calculated based on what's on your credit report compared to your income.

I hope to build strong relationships with people near and far.

If you are not getting any traffic, it is usually a pricing issue based on what I have read on this forum.

I've learned that investing will differ for everyone based on their goals.

From my research so far, Buffalo and Rochester rental markets seem strong at the moment.

That is a small kitchen so looking at less than 10k all in, the flooring 7-8k if you are using a life-proof style LVP and drywall/paint about 5k based off your SF.

Located in: Trenton, NJ  one thing to realize and talk to your accountant about is if you assume it - do you assume it based on his cost basis, which could be a lot lower than the property value and then when you do eventually sell it, you could be hit with a nice capital gains bill. 

We're based in Orlando, manage long-term rentals 1-80 units, and own/manage 48 units ourselves, so we know what it's like to be an owner and a manager.