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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

I'm considering hiring a company that will meet with me and design our flips from studs to finished product, including the functionality of the property to the actual finishes used; i.e. the design of the flip. 

When the cat leaves, the mice will play"As an out of state investor, the mice are always playing.It takes years and years to develop trustworthy relationships with feet on the ground.Even then, you will loose money just like we do to this day in Toledo to shady contractors, etc...And we have a whole team of people on the ground including myself and my co-founder.Granted, if you do it right you can find amazingly cheap deals, renovate and have immediate equity plus jaw dropping cashflow.I would advise moving to the market you are considering and getting your hands dirty for a few years.Easier said than done but if I moved from Sydney, Australia to Toledo, Ohio.Anyone can do the same lolWishing you much success

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

If I get the place rented at the amount discussed with the property manager, I'd be basically breaking even.Obviously, the first order of business is to get the first rental property filled, but I'm wondering how I should go about acquiring the next property.

We want to build the team to make this work including an experienced investor and go from there. in no way shape or form do we want to go into this fully loaded and halfcocked.

On the east side, in Redmond, we are currently living in a property worth probably 1.6 with about 600K outstanding - and a monthly payment of about 4K including mortgage, insurance, property taxes etc.Looking to leave the area.Does it make sense to rent it out given that I’ll probably get 4K in rent?

Under the definition of private lender you proffer we would not be included at this point, despite the fact that the borrower is getting almost exactly the same thing as when I was lending only my own money.  

In Virginia you can include these in your selection criteria but you do run risks if the database is wrong or you get the wrong person in your background check.Think carefully before establishing your selection criteria because you MUST stick to it.

Other than a regular inspection or if something breaks, you shouldn't have to enter the home or interact with her.