That depends on deal to deal since the condition of each property and requirements of each seller will be different. 

These are all very very different assets and require very different expertises and experiences.

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.

Identify your target market - Research different locations based on your chosen strategy.

Not exactly.And anyone that tells you different is one of two things:… lying or stupid.

I have a check made out to the LLC but our old business account is in a different name with TD bank.  

If I hadn’t of quit I’d likely be worth about $20M today given the way my local market went during the intervening years and the different opportunities I had.

That is what I did to start investing and buy my first rental unit if you have any questions on different strategies or want to go over your thought process let me know I would be happy to answer any questions for you. 

However, time in the market makes all the difference in the world!

Florida and Texas are no different, other than slight difference in lease rates.