Purchase price: $55,000 Cash invested: $30,000 Purchased property was renter-occupied at $600/month at the time of purchaseDid not renew lease with tenant.Completed full Renovation at $30,000 6 days on the rental market before the property management team got a signed lease at $1200/month Renter moved in July.ARV $179,980 What made you interested in investing in this type of deal?

This property has a full unfurnished basement that could be converted into another unit as well with a side entrance.  2.

Be extremely conservative on ARV in this market Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

They have lost many employees and the level of service and quality has been dismal.

Reading through the contract offer that my longtime buyer's agent has prepared, I was surprised to see closing date August 7 and first payment due September 1.My understanding is that the buyer normally gets the remainder of the calendar month after closing date, plus the next full calendar month, before first payment is due on the first of the following month.

Guy in my town built one last year with 30 spaces or so- packed full today. 

Specifically, I'm interested in exploring options that align with a 25% down payment and Debt Service Coverage Ratio (DSCR) loan.If you're a seasoned broker familiar with Birmingham real estate and have a track record of success with investment properties, I'd love to connect.

They are serviced with a note/contract servicer which holds the original docs, receives and dispurses pmts, does the tax reporting and enforces the terms like late fees, early payoff penalties,  interest-only end dates, etc. 

Thank you @John Neufer  I actually finished chatting with Brett from Paperstac and he says going through a Servicer alleviates alot of the license requirements as well.

Each County may vary and may say you need all of the money that day or give you 2-5 days for the full amount.