What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

It was around the time of COVID, making it incredibly hard to find reliable tenants.

Its an incredible program if the owner knows what they are doing and you get the right tenants.

I live in Miami, FL and don't want to buy here since prices are incredibly high.I want to invest in growing communities, not exactly sure if I want to buy an AirBnb as my first out-of-state investment or  3-6 month short term, or a 1 year+ property.

Kevin, I can help steer you into the right path if you can share your credit score and your capital situation.Hard to advise someone without knowing what tools they have to start with, and sometimes getting ready for deal 1 is what is needed to work on.Welcome!

A DSCR loan is going to be your best bet.Rule of thumb, 80% LTV with a decent fico score all day long.You can close in an LLC.Hope that helped!

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

This helps them create confidence, learn and develop and honestly has made them incredible assets to our team!

I’ve been exploring multi-family properties for house hacking in both the Philadelphia and Boston areas for several months, focusing on the cheaper areas around the cities rather than in the cities themselves, as housing costs are incredibly high.

And house hacking is an incredible way to get started with only 5% down.