I will pass.( the LARGER the risk/ loan/cash/ time… the LARGER I require in likely return.)b) RENTAL …same INITIAL investment… at the end… property value ( ARV)..MUST be great enough to1) refi… 2) All cash out is back.. 3) Cash flows positive enough to build ( any situation) 6 month cash backup.4) Property MUST have enough equity so that if I needed to sell TODAY… I won’t lose cash.The above requirements “ appear” to be unrealistic ( todays market) … ONLY becausea) non mature / non savvy “ investors are climbing over each other to out bid on over priced “RETAIL” properties being marketed as “ wholesale deals”b) the Gurus and Real Estate Investor Associations are NOT doing their NUMBER ONE JOB… which SHOULD be…To..”

This is an average condition house for the neighborhood and area.I have set my screening requirements as:600-650+ credit score3 times monthly rentNo evictions, violent, or sex crimes6+ months of job historySome form rental references.I have an applicant who meets all requirements except I am unsure if he will have rental references because he told me he's couch surfing right now.  

You might also want to check and see if STR are excluded from the licensing requirements.

Some of this will depend upon what your state licensing board requires.  

The formula for calculating DSCR is straightforward:DSCR=NetOperatingIncome(NOI)/TotalDebtServiceNet Operating Income (NOI) represents the property's income after operating expenses.Total Debt Service includes all debt obligations, such as loan payments, property taxes, and insurance.A DSCR ratio above 1 indicates that the property's income is sufficient to cover its debt obligations, while a ratio below 1 suggests insufficient cash flow to cover debt payments.Lenders usually have specific DSCR requirements, with higher ratios indicating lower risk for the lender.

Also down payment required may be higher based off experience.

You will need to disburse funds annually to each property LLC - but if they are all single-member LLCs this may not be required and only the PM LLC will need a bank account, etc.This is not legal or tax advice, so be sure to check with tax attorney and/or tax professional.

Develop the plan, know how much $ is required to execute, and then start sharing the plan with those who may be interested in investing with you.  

Most lenders will require that you occupy a minimum 51% of the building in order for it to classify as owner occupied. 

But your QI should be your guide through the regulatory maze that alows you to focus on your investing.