We recently came upon a small property and are seriously thinking about purchasing our first rental!

I think we strayed a bit from the plan and probably put a little too much in.

I don't think they would do the stucco though. 

@Kris Lou Many factors go into PMC pricing:1) Locality (city/state)2) Neighborhood & Property Class (time to manage Class A < Class B < Class C < Class D)3) Property condition (slumlord properties hard to manage)4) Number of units (some economies of scale, but not as much as owners think)5) Owner expectations (some owners really want a personal assistant!)

Some of the other lenders mentioned in this thread are more so private lenders / hard money lenders and while they may underwrite based on DSCR, I don't think it is the DSCR loan you are looking for.

I could be wrong, but I don't think the economy supports those numbers.

Triple net lease property at the end of the lease periodwhat do you think? 

How do you think that ended?

I like to have my paperwork pretty, neat and efficient (Im thinking about getting an application ready).

You will likely run into a lot of late-20's/early 30s guys doing this, who have a lot of confidence but not a lot of experience.Overall, I think the biggest thing is finding a group that generally has the same outlook as you.