100% VA loan, which allowed me to put money saved towards renovations.How did you add value to the deal?

I'd been working and saving for many years, however, did not feel it was enough.

(If not, then you should, IMHO)We're all in sales ultimately, and keeping potential business associates on a marketing list is our lifeline.Also, if you were "politely told" that it's not a great fit - how is this a problem? 

We're trying to decide whether or not to pay it off or save to buy another property. 

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).

It occurred to me today that I've never asked about umbrella insurance claims.I’m particularly interested in real-world examples where this type of policy came through during:Property damage (fires, storms, floods, etc.)Liability claims involving tenants or third partiesMajor unforeseen eventsIf you’ve ever had to file a claim and your umbrella policy saved your bacon, I’d love to hear:What happened?

it was an interesting process but basically, the novation allowed us to get the deal done without having to involve the banks. this was a huge motivation. that way I save on having to close twice. 

When interviewing property managers, make sure you ask plenty of questions, thoroughly review their management contract, and request references.A little due diligence upfront can save you a lot of headaches down the road.

However, a good real estate accountant is worth what you pay them because they will save you time and money. 

There is the risk carried by the turnkey company during the renovation and being able to find quality residents for the home and ultimately the investor and at a rental rate that makes sense.