This assumes ~8% interest rates.Interest rates in New York tend to be 25-50 points higher than the national average although maybe I suck at finding good mortgage brokers.

BTW: The 75th percentile rent for market rate apartments with only w/s/t included even in N Collinwood is $1064.

Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.

It would be great to reverse the process of making the landlord advertise, eliminating the wasted time of sifting  the unqualified and government imposed minefields.

@CJ T.Yes, I think you may be confusing a business credit rating vs. having credit lines.For example, personally people talk/ask about their credit score. 

You'll probably have to go into a secondary market with a higher interest rate. 4.

I think most likely we will get a home buyer because with the current rates it would be much harder to make profit. 

My wife and I purchased our first property two years ago in Salt Lake City for a good rate at 4.29%. 

DSCR only requires that the rents be equal to or greater than the PITI payment or the ITI payment if you go I/O interest only.You can use DSCR for a cash out refinance, Purchase and even a "Rate and term" which is when you want a lower rate or get out of a HML - Hard Money Loan, Balloon payment, Adjustable rate getting ready to expire/adjust (Recast).

Keep an eye on rates as if rates fall you can renogotiate the rate if interest rates fall enough.