It is normally kept in a separate bank account in the state where the rental is located.6.

Often the best ones are the smaller community banks in your area, not the large coporate banks however they'll have options as well but its normally relationship based where you'll come in to the bank to meet them and they'll be looking over your financials, credit, investment experience, etc. however once you're in with one of them, it becomes much much easier to borrow with them in the future...

-- I know every location probably different but normally how long the process take?

All that being said, beggars can't be choosers, and when you're going after your first property it's more important to get your foot in the door and learn the business than it is to make a killing on your first unit - i.e. if you have to make a slim margin to get a great case study, that's better than trying to charge 30% for something you've never done before and spending a year trying to convince someone to roll the dice on you.

It sounds like you are taking all the risk and they are doing what a normal property management company would do.

That makes it tough but I think I can still get the ARV needed to cash out refi and not have any money in the dealQuote from @Dalton Foote:

My normal DSCR lending partners said no.

Given these things, in a normal circumstance, I try to increase rents 1-3% annually believing that is generally how much rents will increase LONG TERM and that a tenant's pay will likely rise in that range each year on average as well.

I was thinking about normal residential investing.

I am curious is anyone experiencing higher than normal nonpaying tenants and evictions?