It seems like the income is significantly reduced when there is a mortgage but as a newbie I am trying to figure this out.Thanks!!

If you have rental income, do you already have your 2023 taxes filed? 

The DSCR loan is underwritten solely based on the income of the property .

It’s a bit of a process with several steps, but it's totally doable and well worth it for the added income!

It's crucial to estimate the total cost of these renovations and weigh them against the potential increase in property value or rental income.

I was willing to overlook them for access to the 5% cash management income, but they're significant.

It's 20% down but it doesn't go off DTI but income of the property (yes, even SFH for STR).

Stuff like that will bug you, but I keep telling myself, it's passive income, you wanted to be hands-off...:)  Hopefully it's rented out fully soon or we'll be looking to do a SFH with another management company most likely.

I understand for tax purposes that I can only take two-thirds of the expenses related to the house to offset the rental income.

That plus your debt-to-income ratio is really going to be the determining factors on your budget for your house shopping.