2 years ago I purchased an acre of land in Arizona with a friend.

Mind boggling that such a method of purchasing property is even posed - all it's telling me is simply this; " Be Fearful When Others Are Greedy and Greedy When Others Are Fearful'"Warren BuffetMany legit ways to purchase property.

I see the advantages with DSCR… in that unlike conventional mortgages which have a 10 property cap, and it becomes exponentially harder to purchase each time… DSCR allows you to build a portfolio. 

Quote from @Cheryl J McGrath: I'm having issues getting property under contract.Agent/seller wants a pre-approval of funds first.I can't get a pre-approval for every property or is that the way it works Thanks Are you actually intending to purchase the property?

Purchase price: $402,000 Cash invested: $80,000 Purchased 2 lakefront lots - one developed with a SFR and the other vacant.

And this debt allows you to actually purchase additional depreciable basis. 

Here are the terms: Purchase Price: 255,500Loan Value: 229,950Sellers Credit: 15,000Down Payment: 25,550 (10%)Debt Payoff: ~22,000Interest Rate 8.12%This high debt payoff has doubled since I initially started this process (at first it was 10K) and lender is telling me it's due to the interest rate increases. 

This way you'd only be looking for financing $895,000 of $1,150,000 purchase price.

Overall for land purchases, you'll want to make sure it's not wetlands and it's not landlocked.

I am constantly told by investors, particularly new investors that MLS properties are bad investments and they will only purchase "off market" properties.