Ryan,From an insurance perspective:1, discuss the claim scenario (Tenant vandalizes the unit) with your agent and see how, potentially, your policy would respond2. require that your Tenants purchase Renters Insurance and have you named on the policy so you receive notice of cancellation. 

It actually doesn't matter if you are purchasing for cash or financing - it matters how much the purchase + reno will cost compared to the after repair value.

Where I live just running numbers on the MLS there isn't a lot of inventory of multifamily for sale on the MLS it seems like landlords trying to sell their properties in my area have them overpriced.I'm from Kansas curious what you guys are getting or if you have to look elsewhere besides the MLS. 20% Minimum COC, 15- 20% net on cash purchase In the Ohio markets 

Purchase price: $25,000 Cash invested: $11,000 Sale price: $62,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Joslyn Lukestich-Lewis, successfully completed a fix-and-flip on Curran St, Burlington, IA 52601.

People purchase our deals that were on market often.

Ensuring that you do your homework before purchasing a property is extremely important for making an intelligent investment.

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 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

But in majority of cases this should not violate your terms- DSCR requires the property be an investment rental once you purchase it the property can be STR or LTR.

Purchase price: $195,000 Cash invested: $52,000 Sale price: $317,900 Contributors: Peter Vekselman Partner Driven, in collaboration with Jason Arguelles, successfully completed a fix-and-flip on St.

And of that, you might need to talk to 30-40 sellers with proper sales skills and follow up before you come to terms with someone to move forward with a purchase.