The whole process would have taken maybe 3 months.

I purchased a house in September 2022 with the intention of staying a year then moving onto the next.

Hi Eric - As you can see from the comments, it is up to individual discretion to call DSCRs "no doc" loans or not.Investors are drawn to DSCR loans due to their simplified documentation process, which offers less paperwork and hassle compared to traditional lending options like conventional and bank loans. 

Though, this process will be the same for the other state (if you created a CA LLC you may need to register it as a foreign LLC in the state in which you are doing business/holding property).

One wrong move, one wrong contractor, one wrong vendor…will erase any "benefit" one city has over another.

Bankruptcy is not a viable option in our scenario and we don't want to stop the process.

Hello and welcome,Best move I made was taking some time to put a plan on paper, talking with some investors, and a bunch of reading before jumping in.

Without knowing how much of the renovations you were planning on doing yourself over time versus how much you were wanting/needing to finance up front, you would also want to talk with potential lenders about what loan products they have which could incorporate both the purchase price as well as the reno costs into the loan package.Hope this info helps get you pointed in the right direction - definitely keep us updated as you move forward with this project though!

Most folks here find a way to househack (myself included) to build wealth or the next down payment, and move on from there. 

I keep the rmd the lowest possible however to secure a loan on a home I inherited I had to adjust the rmd higher...now I want to move it back where it was because I am very conservative and like to have money for the unforseen future .