My focus is on long-term rentals in the C+ to B neighborhood range, ideally priced under $120K (preferably closer to $100K).

If a seller wants a higher rate to match what they feel is a fair risk-adjusted return, that’s a completely normal part of the negotiation.

To me, they allow an investor to more closely match the terms one might receive for a single family mortgage (30 years, decently competitive rate etc) with maybe a compromise on payoff / prepayment penalties.To me, the most important thing for a LL using a DSCR loan is to be CERTAIN your internal underwriting is solid.

Use him to help ensure your draw process is smooth, and your SOW matches what a lender can pay out etc.

We discovered a few things  on the application that I don't know how to think about:- Applicant has 5 bad debt accounts that were charged off, most recent one 6 months ago auto loan, $12k in outstanding debt (applicant indicated it was a bureau error)- For prior landlords and personal reference - we did a reverse phone look-up; in all cases the phone numbers were registered under a different last name than what was on the application and that last name matched the applicant's (no exception - for all of them); TruePeopleSearch and similar sites all indicated that the applicant and landlords / reference are all part of the same family and all had some connection to the common address- That said the applicant's FICO is 640+ and there is a verifiable source of income from steady employment (government job)What is your advice regarding this applicant?

We only work with applicants who match our rent-ready standards.We look for tenants who:• Respond quickly• Have clean prior landlord communication• Understand inspection timelines• Respect the processIf someone is chaotic during screening, they will be chaotic during tenancy.3.

Quote from @Jimmy Rojas: Im a first time homebuyer, i been 1099 for 10yrs now, total monthly expenses $1500 , no debt, bring in $5k a month, experian credit score 745, looking to borrow no more than $200k maybe less, ideally $15k down payment , %6 or less interest,  monthly payments $1500 or less, what are my options and what route should i take. 

You can NOT be all things to all people all the time.It's better to walk away from a bad match them trying extra hard to make it work - and it still blows up in your face.Document EVERYTHING!

I have challenged an appraisal on the comps they used and provided comps that matched my property.

That would be the way to minimize the amount you need to put down since you are ideally lowering housing expenses.