With rising interest rates and the widening wealth gap, first-time homebuyers are by locked out of the housing market, it seems long-term rental demand is solid but of course it would be important to get quality tenants in the better parts of town.

(i could potentially go to the bank and get DSCR or a standard 30 year mortgage on it and have a cash flowing rental for $100-$250 a month?) 

A short back story is a long term friend and co worker and I have been talking for a year about getting in to rentals (his parents own 12).

Considering to get first OOS Rental in or around Huntsville.

I’m putting together a deal to buy a multi-family rental property from my parents in Buffalo, NY.

If I include my mom’s rentals, it goes back to 1970s.   

The downpayment was through my savings and the mortgage is a standard rental property loan.

This will make things easier for the tenant and myself, especially if I decide to furnish a few units as short-term rentals. 

If you were to move more towards a luxury rental you could likely get $600/month extra but your entry price would then be around $425K.

With conventional long-term rentals, if you're an established landlord, lenders will count the income from a new rental property right away, allowing you to use it to qualify to purchase another.