I have trouble believing that.They say you should start as close to home as possible, so you can attend sales and size up properties yourself.

The better option is for the Seller to pay your closing costs.

I was awarded close to $5k in tenant damages and back rent during the court hearing.

Most of that here will go into the downpayment and closing costs and even then, especially if you long-term rent out the property, you'll likely not cash flow much at all even if you self-manage.  

It is not close.  

DSCR offers a (No prepay, 1 year, 2 year, 3 year and jumps to 5 years) The longer the prepay the lower rate so match the prepay year up to when you think you might sell or refinance again.DSCR also allows you to close in an LLC and in some cases will offer a lower rate.

Usually investment properties will want a 20-30% down payment in addition to closing costs, so it's not going to be a good idea in your current state.

It's also close to Quebec/Montreal.

During the refi boom I had people cancel on their lender and switch with me after they had signed closing documents(this was during the 3 day right of rescission for the VA loan) you may incur costs such as the appraisal, but other than that you shouldn’t owe anything to the lender.

Will need you again when we close this one (well just before it) haha.