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.

But, can I even take out another loan to buy an investment home in LA/OC area with the 700k loan that I'll already have from the FHA loan?

You do this by creating a LLC, that should be your first step before even trying to wholesale, or even buy a investment property.

But this is not Kickstarter or even Prosper.  

You can earn a good income, learn how to be a better manager, network with investors, and maybe even have your license to buy/sell.

Even in brew-city Milwaukee. 

My first and only market as a newbie was Cincinnati but I’m no longer interested after a site visit.Best part - abundant multi-family properties to invest in and you can even get decent cash flow, depending on the area.

If you don't have to sell if they stay where they are or even go higher, than you should be fine. 

I wouldn't even form an LLC until you have a substantial amount to protect.

The majority of local banks we talk to for Columbus OH wouldn't even fund a deal for an out of state investor (credit unions, etc).