Hey Daniel, If you are qualifying for a DSCR based loan, you do not have to do the extra step.

I'm based in Florida and investors here are getting killed by Taxes and Insurance.

Why would someone be willing to take payments on a home based on your promise to pay?

@V.G Jason thanks that helps the M2M is based on Zillow and Redfin although the numbers listed above are ~100k less per property than what those websites show for each propertyI need to look into recast I am assuming the mortgage broker would know this?

DSCR Rates are going to vary by quite a bit based on multiple factors (more than conventional), primarily FICO, LTV and DSCR - but also buydowns, prepayment penalties, and some alternative structures.That being said, I would say the average rate right now is around 7.5%, but can vary all the way down to 6% or higher than 9% for some special cases (like Multifamily 5+ or Mixed Use)Heres a couple articles on what goes into DSCR Rates (in addition to market) that hopefully helps!

Jacksonville is a great place to invest as I'm sure you've figured out based on your homework.  

I would let him know that any unused rent money would be refunded, along with his deposit, assuming he meets the lease requirements.Personal opinion based on the information shared.

Based on what you're describing, I think your going-in criteria is definitely something that is strong *however* your goals may not match what current market reality is.When you say $3200/month payment - do you mean $3200/month before or after accounting for potential future rental income from your tenants in the other units? 

We're all basing our answers on the limited information you've shared.

Then I'd ask myself if the monthly payment would cash flow based on rental comps.