Before submitting an offer, contact the Condo association to understand whether the property is non-warrantable (will require Non-QM financing) or warrantable (Approved by Fannie/Freddie) as that will impact the rates and terms you’ll qualify for  Lenders consider all costs when calculating your DSCR so get a head start by asking the association for HOA fees as this can really impact your ratio.

(If radon is an issue and you know about it as others have stated the cost to mitigate has gone down significantly and I’d do so).

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

You are blending 2 income methods.

I've had bad experiences with two different property management companies in Columbus that stemmed from them not taking timely action on repairs that cost me a lot of money and also not identifying obvious things in inspections that led to higher turnover rates and increased the time that it took to get the unit ready for the next tenant. 

Another method I gain unlisted leads is by talking to the neighbors of every house I rehab.

Depending on the price point of the property and the market you are in the cost for certain things can change.

Example:Mortgage approval up to $600k20% down payment = $120kClosing costs = approx 1.5% $18,000Furniture costs approx $30,000 based on $20 per footv at 1500 sqft homeMoney partner agrees to contribute all necessary cash approx $168,000 to purchase and set up STR. 

Idea on cost to tackle this?

Vacancy/turnover is very costly.