My partner and I closed on our 3rd investment property/primary in November 2023 in High Point.

The big difference between conventional and DSCR property financing is that the lender is looking at the rental income and not the borrower's individual income / DTI ratio (income is only looked at for reserves and cash to close). 

I know Detroit is different than Grand Rapids, but that my only data point close to Grand Rapids right now.

That hasn't been cleaned in years and appears to have been left with water in it and the door closed and not run in a long time. 

Hi, account closed.

After closing, one of the tenants said that they gave the previous (before this seller) a security deposit and that the seller recognized that their deposit was transferred to him.

From what I can see Vacancy levels are not bad (5.5%) and it doesn't seem like a bad market, but from someone who lives so close I'd love to hear your experience! 

If your loan comes from your builder or if the construction loan comes from your lender (both will have different requirements) and there is a difference between a "one time close" construction loan and a "construction to permanent" loan. 

Location (rapidly changing/close to amenities)This will hopefully make it easier to rent and give you options to rent out short term if desired.

If you can't invest in your back yard, pick a market that is close by and you can drive or at the very least have an easy flight to.