When the work has been completed, you will than qualify for a traditional loan which will be at a much more favourable rate.

Or simply ask yourself, would you rent out a traditional rental, for an annual lease term, without a written agreement?

My wife and I are considering buying multiple investment properties in the next 2 years or so and was wondering about the best strategy for traditional mortgage applications.

Are you currently looking for traditional financing, HML or PML?

I believe we closed sooner than the traditional 6 months. 

Also, if we do get the DSCR loan on the land and modular home, rent it for a couple years could we then convert it or refinance it to a traditional mortgage.

Quoting from https://www.nbcnews.com/news/u...With Rhino, the platform replaces the traditional security deposit to a landlord and instead provides renters with a monthly low-rate insurance policy, simultaneously providing protection to property owners.

You can however, improve results by focusing your message on the sellerbut not saying that you know their circumstanceFocusing on seller can be as easy as listing the reasons why selling a home to you is easier than going through the traditional realtor route.It can be creepy and piss people off if you start in with "I can solve your financial problems by buying your house".

When you reach the refinance step of the method, do you refinance with a traditional mortgage or another DSCR loan?  

And so here is another option, although maybe not traditional, what about a lease option with a non refundable $170,000 move in fee and a option to buy at $105,000.