Generally will want to see fully finished/turnkey to get a 30-year option like DSCR high credit or not.If you can get the first property completed and leased up and at least get the credit for yourself back up in the 650s pretty quickly then a DSCR Loan should be possible on that one - that can be the first step

The lot back up to a very. large pond behind it, and a forest.

I figured this would create some possibility of buying dirt cheap land in heavily affected areas and maybe holding until people rebuild around it and being the value back up maybe??

If they provide you one, I would still say I am getting my own.I would ask for full demographics of the area, including incomes, home prices, education levels, crime levels, etc.I would want to see full tenant application and any pertinent backup verifying income, employment history, landlord references, etc of the in-place tenant.I would want to talk to the property manager, if they are coming with the property.  

From roof leaks to sewage back ups.

@Jonathan Tavarez  Would love to check you out when I come back up that way to check on my project.

Your doing everything but plumbing, and burner, so just hire someone, 

😊 I'm working on getting back up there to spice up the game room with some sort of wall art or decoration soon.

Next I would look at water backup coverage, especially if there is a basement.

I would go for the #2 scenario as the market is expected to pick up quite a bit this summer when rates should drop and more buyers that have been on the sidelines come back in and heat it back up.