In fact, we stayed over a friend's home during our numerous research trips there.

In parts of the world (US included) where there are homeless people and cheap land, this can help provide a solution.

I also listen to Mike Zuber author of one rental at a time talk about learning your market which is a course he has that includes a spreadsheet that tracks sales so you know what's a good/great deal in the area of the investment. 

I then include a letter from the lender indicating a pre-approval for the funds.This way the offer looks good (no extra contingencies), but is completely transparent with the financing details.

But since this was a new build, I was able to have the developer pay the closing costs, including some extra upgrades done on the property. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

We have access to around $200k if we go all in not including investors if we could find them.

When COVID hit, everyone was working from home and because in many condo communities, water is included, and most HOAs didn't account for the extra usage.

Hi Sean, I’m a “newer” investor and have a few doors in the Midwest, including Memphis and Detroit.

I have long term rentals like this and I include it in the ad, even then you get people who don't read it however it does cut down on contacts that you can't house.