It's important to look at the rent role and history (if available) to see if your tenants are paying on time. and review their current lease. 

Working on your credit may be more important than your income going non conventional lending.

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.

@Jonathan Snider another con may include the fact that you will now have multi state nexus and tax liabilities, which often times increases complexity for unaware investors

For 2023's tax returns, you can simply remove the activity entirely from the tax return including the assets, or you can make them inactive / out of service for legacy purposes.You might have a passive loss carryover on Form 8582.

Here are some points to consider:Renovation Costs: Even if you did the work yourselves, you can typically include the cost of materials and any contractors you hired in the renovation costs.

Good communication before, during, and after a deal has gone full cycle is important to me as well.

In the Smokies the people I know (including a few of my own properties) who had a lower purchase price have "price discipline" and are keeping rates where they "should be" and adjust for demand. 

CPAs might not always be proactive in asserting their value in the initial structuring process, leading to their exclusion from early discussions.However, recognizing the importance of CPAs in optimizing tax efficiency, mitigating risks, and ensuring financial compliance, it's beneficial for GPs and their legal teams to involve CPAs from the outset.

Lots of things to consider - and price is definitely an important factor.