1) what’s the property worth?

Here are some key expenses you should consider when managing a buy-and-hold rental property:**Mortgage Payment**: If you finance the property, this will likely be your largest monthly expense.

Quote from @Bill Kirch: Hi all.I am in Central New Jersey and I am negotiating the sale of my commercial property in New Brunswick NJ.

@Neha MulkarTwo basic Options:1) Conventional Financing: FNMA, FHLMC, FHA, VA, uses your credit score, income & debts to qualify.2) DSCR Financing: uses your credit score, property income to qualify.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location/neighborhoods to invest in.Why is Property Class so important for investors to understand and apply in their investing strategies?

Sorry, forgot to mention in my answer above, if you want to seller finance with a balloon, then you will need to either fit within the One Property Exception or get an RMLO, even if you do three or fewer transactions per year. 

Also, for your first property, did they require you to hire a GC?

Question, has anybody used Park place Finance?

It handles rent collection (with late fees), lease upload + e-signing, and gives you good visibility into your property finances.

You should still be able to finance this on a DSCR loan, however it will require some exceptions to be made and the rate will be high. 

The best type of loan will largely come down to comps and your personal ability to get financing.