The number usually varies from 10-20% depending on credit score, property analysis, etc.Some lenders will work with any level of investor experience, credit scores as low as 660 and can close in as little as 10 days (there are loan options for 640-660 credit scores- they require 20% down).Another good thing is interest only and 6-24 month loan terms- you can refinance by selling or refinancing to a long term DSCR rental property loan at any time once you complete the rehab.Once the property is ready you can sell it or if you want to keep the property as a long term investment, you can underwrite the loan based on your income /debt to income (DTI) ratios or you can go the DSCR route where the loan is underwritten based on the actual or market rents from the appraisal.DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

These properties are very low value for most lenders.

TLO is super expensive for individual searches and is still only 50-70% accurate. 

Your interest rate seems low 6.5% for commercial. 

In an expensive market like CA cash flow at 4% could be great if the other metrics were solid.

If so, I might do well to amend those tax returns and take the depreciation and expenses of maintenance and utiilities.

Seeing as my cousin is NOT a real estate investor (he and his wife were living in one of the units and the maintenance and expenses just became too much of a headache), I'm looking for your help.

Rents are under market and expenses could use a trim.

@Barb Knowles If you're just starting out, you may want to build up more cash before you start buying and holding if funds are low.

When they sell an expensive property, they have money left over to bid up properties in Arizona and live in much larger and nicer houses in better neighborhoods.Anybody who already has properties in Arizona has done quite nicely.