I do the standard buy and hold but the property has to be bought at a discount - 85% of ARV is my maximum - including purchase price and rehab.

I have good standards.

This is standard information that we ask all hearing potential witnesses to provide.

If you took the hit and lost money on this one tenant, by what standard would you refuse to do so to other tenants in comparable situations in the future?

I've treated some patients in adult foster homes in the past - I wonder if connecting to the operations managers of those facilities would be beneficial? 

Or try the reverse - rehab a property to Class A standards in a Class D neighborhood and try to get a Class A or B tenant to rent it.Unfortunately, many newbie real estate investors are jumping into buying affordable Class C rentals - expecting Class A results.

With rehabs you can get to significantly lower purchase prices and typically the lender will just be looking for  a100k+ ARV so that you can refinance out of the loan once rehab is completed (100k as-is value is pretty standard for DSCR loans).With rehabs experience is the biggest factor to LTV and rate so partnering up with someone for the first one or first 3 will get you significantly better terms (working in the same area can also provide benefits in terms of LTV).

We sign a completely new lease with the new tenant after we make sure that they meet our rental standards.

Section 8 tenants can be great, but the properties do have to meet specific housing standards, so factor in potential renovation costs to ensure compliance.

As a few others have mentioned I think the 15% fee for MTR is the typical industry standard but it can depend on the area