Remember, it’s not important to start fast and get big, just start and learn.

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 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Hi, I am a newbie trying to purchase an STR property and hoping to save on my taxes from my W2.Could someone please help me understand what type of loan is best for my situation?

If you are looking to save on having the floors refinished, ask for the pricing difference in just a "buff and coat" vs a full refinish.

Lenders usually require 6 months in reserves / savings for property mortgage, taxes and insurance.

I always like to stay under around 60-65% rule, as some unforeseen expense always seems to pop up once you start tearing down walls.

You want to work on your finances and savings now and talk with any people who would co-sign and a lender so you can start a runway for the future.

My target purchase price is under $1.7M and prefer cosmetic fix to start with.

I started with an afternoon every other week, which was changed to an afternoon every week.So I put issues into 3 buckets: emergency (a pipe is leaking), within 24 hours (toilet running), and non-pressing (a door is not closing on its own), which is where most things landed and are handled that way.

@Manuel A Zuaznabarcan you start with a house hack