Pecunia non olet"

He has only done single family (non investment) properties.

Must have multi-family zoning and be 500+ feet away from another non-owner occupied STR or you must live in the property for 6 months out of the year. 

A 4 bed, 1 bath is typically a non-starter.Improving kitchens and baths.  

I was advised it would be beneficial to have a reason for non-renewal in New Hampshire in the event that the tenant fights it.

If they are on different tax parcels, I will use DSCR for the non-primary deals and then FHA or UDSA (assuming it is rural) for the owner-occupied one. 

As I mentioned above, the risk of being sued, found guilty, and fined more than your insurance will cover is almost non-existent. 

Their LTV is 70% max and they offer a 6 percent return for the investor (non pooled funds). 

I have attended plenty Padsplit events and talked to my Account Executive (AE) and some veterans from Padsplit (the real expert, not newer sales person), and some Padsplit investors who own them and love them. 

We are closing on our first South Bend rental property next week, as our local market opportunities have become non-existant unfortunately.