Due to our lack of US income, a DSCR loan appears to be our sole viable option.

My goal is to let rent fully cover my monthly loan payment and generates couple hundred positive cash flow every month.I am considering to buy a house around 200k with some mild renovation need to be done.

I would leverage the property with a 60% loan to value loan.

Property: HereComp: Here (Sold on 8/1/2022 same street)84 Grangerford Hts, West Henrietta, NY 14586Listed : 100kHML at 80% of ARV (240k) = 192kInterest only payments (10% interest)(192k x .10) /12 = $1,600/monthPoints = 2 (192k x .02) = $3,840Loan origination fee's = $1,000Additional monthly holding costs:- Taxes (5k/12) = $416- Insurance = $60- RGE = $120Total monthly = $596Duration of rehab = 6 monthsInterest only ($1,600 x 6) = $9,600Points = $3,840Origination = $1,000Holding costs ($596 x 6) = $3,576Total Holding costs = $18,016Loan amount of 192k:Subtract:- Purchase price = 100k- Closing costs (4%) = $4,000- Rehab = $50,000Totaling = $154,000Remaining balance on loan= $38,000Sale at $240,000:(-) (Realtor fee's (6%), closing costs (4%)) = $24,000(+) $38,000 Remaining from HML(-) Holding costs ($192,000 + $18,016) = $210,016Profit ($240,000 + $24,000 + $38,000 - $210,016) = $43,984 - (capital gains at 22% completely estimated) = $34,308Buy and hold:Appraised at $240,000.

They are the ones that know how to write up loan docs for private loans. 

Take a loan out to do your project, use your bank investments as collateral.  

With 5% down conventional loans and FHA loans, buying a property with two or three units can cost less than $30k out of pocket.

They have been late twice last year (2016)  for the months of April and June, due to his layoff and I agreed to somewhat modify their loan, so these two are added to the end of the 15 year term.  

I'm looking for loan service recommendations.

10% second home loan though Northpointe Bank - Jeff Chisum & team.