Another option is considering Section 8 or local housing programs that often cover rent directly and open up your tenant pool.

Underwrite today’s rent.If the property is already rented, use current rent.If it’s vacant, use the actual verified program rent for its current bedroom count.Not “maybe you can get 3-bed pricing once you add a wall.”Not “market comps say you could get more.”Reality only.2.

DSCR floors are landing in that 1.15–1.20 range for most files, but I am seeing a few programs dip under 1.0 when the borrower has really strong credit, low leverage, and solid reserves.

First, they tend to have only a couple of programs and if you do not fit in their box, you don't fit in their box.  

Perhaps he’s passed away, but had entered a long term email marketing program thats on auto pilot and can’t be shut off.

Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

This criteria is for 1-4 and 5-8 unit programs.

And with voucher programs (Section 8 included), the income becomes even more predictable.My philosophy:Only sell if the property is a problem child or the equity is trapped.Everything else gets refinanced and held. 

Your best bet is a Non-QM loan like DSCR or a multitude of other programs that will use normal guidelines but allow the loan to close in an LLC

I’ve personally deployed over $400M in North Carolina for Blackstone and other large investment groups.Today, I run my own real estate investment program, where we build new-construction homes and sell them up to 90 days before completion with a $30K discount for qualified investors.