When it comes to finding a lender for a DSCR loan, does the lender need to be in the same area as my property, or can I choose any lender, and they'll get me the loan out of state? 

My spouse sees the cash flow coming in but is also worried about the risks that come with it such as having a loan for a property rather than having it all cash/paid off.

This makes it to where I will not qualify for a traditional loan.

@JoJo Diego What he means is after he purchases the house and makes renovations using his own money (no bank loan),  after he is done with renovations he'll go to a bank and apply for a loan (refinance). 

Purchase price: $92,000 Cash invested: $6,000 I bought this property with an FHA loan.

You're the prize for the lender, just as much, if not more, than they are to you. lenders need to loan money for their business, but they need to loan it to responsible people that will pay them back.

Loans are non-recourse.https://www.biggerpockets.com/member-blogs/7993/73151-what-a...

We used Catalyst for a Hard Money Bridge loan right into a Conventional. 

My agent and lawyer and loan officer obviously are pushing to close fast. 

Given your situation, tapping into the equity through a HELOC could be a smart move, allowing you to access capital for new investments without selling off your current assets.That being said, considering your stable cash flow and existing portfolio, a DSCR loan could also be valuable.