Are they offering you 2-3X the typical rent for your area?

Particularly in a college town there are a lot of opportunistic property investors and low quality property managers. 

I have no W-2 income and have been advised to consider DSCR no-ratio loans, but current rates are in the low 9% range, which seems high.

Also, I highly recommend the main sewer backflow preventer!

You’ll want to have your numbers in order—this means understanding how much the property could sell for, what repairs might be needed, and what kind of offer makes sense for you.When you do contact the homeowner, be upfront and personable.

There are multiple programs to use to help offer a higher cash flow as well.If you have any specific questions feel free to reach out I enjoy helping and talking REI.

There is nothing wrong with FHA, but most real estate pros would agree that if you are trying to get a seller to accept an offer when there are other competing offers, a conventional loan offer is going to usually be more favorable than an FHA offer at the same price.   

Totally disagree quality agents are invaluable parts of a real estate team.

The point is if you do real estate all the time, you live through high and low market and your average return should be all right.

Rates are high...that's the new normal.