NO reputable lender asks for funds upfront besides appraisal fee.Have heard MANY horror stories related to upfront fee lenders and it rarely ends well.

Also learn to do stress test on your portfolio if something happens (higher interest rate, vacancy, etc).5- Enjoy: You need to love doing that.

At a glance, it's just Quicken 2.0: advertise a great rate, bury in the small print over $10k in junk fees per $600k borrowed.

Midlothian, Va vs Toano, Va.Property:Midlothian New Construction Stanley Martin 2 over 2 style:  3/2.5ba 1579sq priced at $410KSeller incentives : 5.5% fixed rate for a 30 years.  

I've been using a website called "area vibes" has alot of detailed info on any neighborhood you need, like the demographics, crime, schools, it rates everything using a grading system.

with todays  rates , many  borrowers  wont  want to have their  1st mtg  rates   touched ?   

Do this on a down year where values have dropped for whatever reason (we might be in that environment right now given interest rates).4.

@Stephen Scott I may not have been able to help with a true vacancy rate but if there is anything I can being local to Carbondale let me know.

(the same loan you likely used to buy the now rental and your current primary) There is no reason no to use a conventional loan if you qualify because the rate AND terms will be better with a conventional loan then a DSCR. 

Maybe I could alter my proposal so that they never actually have to put up the cash, but instead just earn a fee for reselling for me.With the put option, I am essentially acting more like a bank for them and freeing up capital that they now have tied up in these loans.