A non-bank lender with a DSCR program is likely to be more flexible than a traditional lender.Best,Michael 

Don't expect to find a traditional cash flow rental on the MLS.

Hey @Christian Espana!

Cash flow as a traditional long-term rental is tough here, but there so many other ways to get into real estate investing in Colorado Springs.

Once that is complete, you can set up a Builders Risk policy and get traditional financing in place.

So that is holding up a traditional loan for me.

Nevertheless, I live in the Dallas/Fort Worth, TX area, which has traditionally been a lower priced area, and have mostly bought locally, but even in places like this, prices have risen dramatically, and it's getting harder to get good cash flows.  

As a wholesaler there are sellers in every neighborhood that think their property is worth a million dollars, I would recommend handwriting letters or going door-to-door and talking to people and building rapport in relationships which may take time but is also probably the best way to find a good deal because you'll know about properties that people are interested in selling that are not going to be on your traditional list from the source or text delinquent or any other lists.

If I were you I would find a good multi-unit property that you can live in and get a traditional mortgage on and start renting out immediately to get your mortgage paid by other people and cash flow.

Taylor,Another viable option would be the traditional method of calling previous landlords.