Lee's decision this week to extend the 'safer at home' order through the end of April, I'm becoming hesitant to step in to a property that I can't use or rent when I take possession.I have sufficient reserves set aside, and I am otherwise able to support the expenses of the property with my W2 income. 

I would make sure you have sufficient due diligence time in your contract so you can review everything. 

I hit my quota my first year by working long days, but my book of business won't produce sufficient income until (at the earliest) the end of my 2nd year. 

While you do have the chance of limited personal liability if your operation is structured properly, well managed, sufficiently capitalized and insured, it doesn't protect your company or its assets.

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

They ended up getting the loan at a premium to appraised value because the revenue was sufficient to meet this particular DSCR requirements.The fact of the manner is all of these lenders that offer DSCR loans may have different requirements so if you are going to go this route you may need to do research to see who would do your prospective deal.Perhaps you might not even need to go this route and your deal could qualify for conventional or with a portfolio loan from a community bank or credit union.Hope this helps!

The LLC has sufficient history, and the loan collateral is enough to cover the loan (plus some), should I need to foreclose. 

., origination fees, commitment fees, lock-in fees, appraisal, credit report and flood certifications), or a cash advance taken by the Borrower on a revolving credit card account or an unsecured line of credit to pay these fees may be used as an acceptable source of funds and may be considered Borrower Personal Funds as described in Section 26.2(a) if the following conditions are met:The maximum amount charged or advanced may not exceed the greater of 2% of the Mortgage amount or $1,500The amount charged or advanced must be included in the Borrower's total outstanding debt and the repayment of such amount must be included when determining the Borrower's monthly debt payment-to-income ratio as described in Section 37.16The Borrower has sufficient verified funds to pay these fees (in addition to the funds needed for the down payment, Prepaids/Escrows, other Closing Costs, Financing Costs and reserves as required); however, the Borrower is not required to pay off these charges at closingRefer to Section 17.38 for instructions on delivering Mortgages where Borrower uses a credit card, cash advance or unsecured line of credit to pay fees associated with the Mortgage application process."

I saw that you were nearby, so I was wondering if you were interested in pooling our funds together along with some other investors who lack sufficient capital to make the best possible investments within this market.

FHA "self sufficiency" test can be a dealbreaker that does not come up until 2-3 weeks into the process.