Your CAP rate will be dangerously inaccurate if you calculate expenses incorrectly so let's break those down.Utility Set-up- As an overview you need to know the difference  between city-provided utilities and onsite such as Septic Tanks with Leech fields, lagoons, Wells, EtcGetting more specific what utilities are maintained by the community, paid by the community vs the tenants.I will give you a quick example, I own a park with a bunch of multifamily manufactured units of which I pay the electricity bill.

Could anyone offer insight on DSCR loans and/or provide any reputable lenders?

Also if you can find any local hosts in that area they may provide a great recommendation. 

I have a solid amount of capital to invest and am looking to invest remotely in the Midwest or South in places that will provide a net income and, of course, ideally also provide at least a minimal amount of appreciation, but I'm definitely leaning more toward the cash flow model given that I'm an older investor. 

I have an awesome girlfriend of almost 4 years and is a big motivator for me trying to become financially independent so I can provide her and my future family a great life. 

I don't have a permit to start construction yet but am not contemplating whether my original plan is the way to go.I know this is a long post but I wanted to provide as much relevant information as I could and I truly appreciate everyone's time in helping me with this critical decision!! 

Essentially, his partner (you, in that scenario) are providing the bank roll and you get interest and owner ship. 

This allows our buyers to purchase the property, make the necessary improvements, and then choose to either rent it at market rate or sell it.Selling a property without providing at least two exit strategies for the buyer significantly decreases our pool of buyers.Feel free to reach out, you could send me the numbers and I can give you my opinion on what would be a good deal to a buyer with keeping the tenants. 

If you have the income and credit, maybe you can sign on for the loan and someone else provides the down payment?

Ask the inspector how they do their reports and see if they can provide you a sample.