There are other things that factor into your interest rate, as with any other loan, such as the percentage of your down payment, your credit score, loan size, property type, the length of prepayment penalty, etc.Let us know if you have any other questions about how to make a DSCR loan work for you.  50k may be enough to get started, depending on the price range in your market.

Anyone seeing price drops or motivated sellers start to appear in the mid-tier and luxury range?

All utilities/ cleaning/ and sometimes transportation included.  

I think it's crucial to have someone at your side with real experience when you are starting out, 6 years ago I started with a mentor group called Flip More Deals and they taught me alot and helped me through my first 3 deals, real hands on.

I can't even start to tell you how difficult affordable housing is...beside all the normal headwinds, add political headwinds and absolute craziness. 

You will want to start to shop around for other insurance providers and see the best deal you can get.

They’re a great way to meet local investors, wholesalers, lenders, and contractors who are actually out there doing deals.On the buyer side, our group helps a lot of investors and wholesalers get started.

Penciling this...Deal looks tight unless you can keep your operating expenses below 40%.At 60% average occupancy and $250 average daily rate you're at $54,750 gross income.If you can manage to keep operating expenses below 40%, which I doubt because most PM's are charging at least 20% alone before taxes, insurance, turnover/maintenance, utilities, internet, accounting etc... 

Apart from a well drafted operating agreement and not utilizing your personal information on the filing, you’ll need to make sure to open a separate bank account for this LLC.

I might not get in contract myself because I just started and pretty new to everything.