I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

Just depends on a variety of factors.

If not, it may be worth it to pay them a small fee to walk through the property with you and provide their guidance/expertise.

At the end of the day, the most important factor is location.Doing a quick MLS search, there are only 2 homes in the Austin city limits with 6+ bedrooms that aren't well over $1M in price. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

lots of good threads at the syndicator and fundraiser review thread      would check out the https://www.biggerpockets.com/forums/-syndicator-and-fundrai...but try to find a syndicator with experience, >20yr so has been through down-cycles, and also one that puts a lot of their own equity into each project, so their interests are aligned with the limited partners , from my research, there are a lot of syndicators whose fee structure tends to incentivize too much risk taking.

A condo comes out cheaper up front (generally) but how are the long term numbers compared when you factor in HOA and maintenance fees?

Leverage the 0% down payment, but be mindful of funding fees.

I have been told about 60% of the rent will go towards Taxes, vacancy, capx, property management fees, repairs & insurance, and I will be left with 40% to pay off the mortgage or keep as profit.

In the process, we did incur expenses for travel to our target city to view properties, inspection fees, and legal fees for setting up our LLC.