Looking to assure deal flow from realtors but for discounted/distressed properties. 

In an attempt to clean up the industry, legislation was written by those who 1) had never been lenders themselves and had no understanding of the industry and 2) their biggest campaign contributors were big banks (look up Barney Frank, Chris Dodd, and Elizabeth Warren's campaign contributors at the time and you'll see big banks).

If you were able to "make it" with the "high interest rate" of 6.75%, then you will obviously be able to make it at a lower interest rate....you might even cash flow, thus allowing you the opportunity to buy another property and scale your way to success.

DSCR (debt service coverage ratio) qualifies you based on the asset itself cash flowing.

@seththompson have you been able to get positive cash flows in your area.

Our goal is to have multiple properties with positive cash flow over the next couple of years. thanks in advance!

Focusing on the rate in today's environment should be 1 part of the pie, what about cash flow, value ADD, rent increase, possible refi, adding amenities that add to rent.  

What about if I self manage and drive over to the property and spend 4 hours a week cleaning it out for 3 months prior to the renovation and it being rented out?

There are ways to make cash flow right now.

We need a responsible person/family that can take very good care of our property as we are not after the money, but want it to be clean and for you to take it as if it's yours.