Hi all, my business partner and I are aiming to purchase our first LTR property.

You definitely want to look into each step of the process of self managing and see what is involved, not just to do it, but to do it right.

I won't badger you for your business. 

3-4 more tenants may sound great when it comes to income, but there’s a ton of work involved with screening the applicants and maintaining the people and properties.I’m not a fan of the one bedrooms myself.

Recently, I started a boots-on-the-ground business where we live in Dothan, AL to help remote investors more easily self-manage their properties here in the Wiregrass area.

So what's your business strategy?

I'm new to the real-estate business buying and flipping houses, I'd also Iike to start renting aswell

There are also options like investing in a syndication or partnering with investors like me who have deal flow but need capital partners, especially if you are busy or have not developed the skills for the types of deals you want to be doing. 

There's a couple of things that make this more attractive than the other option sugggested of forming a new LLC to own the property.First is the expense and reporting involved in another LLC entity.Second though and more important in my book is that by having your LLC own a TIC interest and having your partners LLC own a TIC interest you keep the utmost flexibility available to you as you move forward with that property to eventual sale and possible 1031 exchange.  

DSCR is great for Self-employed borrowers or business owners who write off a lof of debts and show little income.