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

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?

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.

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

I need help on the lending side for this potential deal...I am negotiating a purchase agreement with a seller carryback of 20-30% as a second-lien position. 

As I plan to house hack whatever I purchase, my expenses should be covered by the tenants.

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

My trust was created and follow the rules of FL, if that makes any differenceI purchased a home and transferred the deed into my trust.