To his credit, he said "I don't know enough about the subject, but I know the guy."

Then, since you are taking over the seller’s loan, you have no loan origination fees and don’t have to use your credit.

And then there’s the basic question of why would a good borrower with good collateral borrow from you instead of the banks, credit unions, and established private lenders they already use?

It usually works out if your deals are cookie cutter and fit a lender's credit box. 

You could set up a line of credit on the owned properties and be ready when you find the next deal.

Just depends on the asset, state, value, credit, DSCRFor 1-4 Unit Residential, you can expect the following on a DSCR loan Rates: 6.00-8.99% Points: 0-5% LTV: 80-85% Terms: 5/6 ARM, 7/6 ARM, 30 Year Fixed 

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

.• Screen for personality fit, not just credit score.

I am actually evaluating property management solutions right now and this product was on my short list until I read your post.

@Shakur Granger - I invest outside of Philadelphia and most credit unions I've worked with offer 75% LTV and the DSCR lenders vary... but 70-75% seems to be the range.