You are correct, it is common for DSCR lenders to require the borrower to be a business entity in Florida, and some other states sprinkled across the US.

Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee

If you are using STR, REPS, or self rental with material participation to convert to active or nonpassive income, you do not have to do this if you have passive business invesment that produce passive income that will exceed the loss generated by depreciation.

It seems that often when companies acquire large books of business in one shot there are growing pains and unfortunately those are felt at the client level.

And personal downsizing is always good for business!

That’s how the wealthy do it with real estate or businesses.

They take good care of the properties, but there's not enough attention given to pricing strategy and they spend money like nobody's business (not a problem when they were spending their own money on the master lease model, but a BIG problem when they were suddenly spending OUR money as the PM).

This will set up your buy and hold business long term. 

I checked the Better Business Bureau for complaints, I checked the NJ State Attorney General consumer division to ensure he was licensed, I checked every reference he gave by visiting sites and speaking with the homeowners. 

I'm doing a refi on a multi-family building right now with a lender I found here on the BiggerPockets Lender Finder - https://www.biggerpockets.com/business/finder/lenders They've been able to help me get a DSCR loan which others on this post have mentioned and they've been pretty quick should be able to close before the new year in less than 3 weeks from when I started the process!