It doesn’t appear it was his intention to pay them back anytime soon.And in the example I gave about the overleveraged Subto that went bad, and the “Solution” was to sell to avoid a foreclosure on a Due on Sale, few if any of the Subto students can bring in $43,000 to closing, so it’s likely the property would go to foreclosure and the gator lender in 2nd position would lose most if not all of their money.

Bottom line though is that it’s all up to them, which is also my fear for them, because I can foresee it simply being a situation where they go or gravitate towards the simplest solution or minimal amount of forethought.

**Long-Term Strategy**: These loans are often seen as a long-term financing solution, allowing investors to hold properties and build equity over time.In summary, DSCR loans can be a powerful tool for real estate investors, but they require careful consideration of the property's income potential and market conditions.

If your place is uninhabitable, tenants can end the lease or withhold rent until it’s livable, but I like to keep things friendly by offering a temporary rent reduction or helping them find a short-term solution.

Your definition is correct for "legal non-conforming".The "legal" part of "non-conforming" is dropped when it doesn't apply so most commonly people call these units "non-conforming", "finished", "in-law suite/unit", or "bonus unit".Non-conforming: Any property that doesn't meet current zoning requirements.Legal non-conforming: A non-conforming property that was lawfully established under previous zoning regulations and is allowed to continue its use.Based on his posts @Mario Morales is referring to a non-conforming unit.

Whether I find a new tenant or not, the departing tenant moves out after 30 days and is treated like an ordinary termination, which means I process their deposit like normal and they can earn a good landlord reference.2.

I know there are some PMS lite solutions out there made for low unit count portfolios but honestly I used ical and excel until about 15 units. 

I ask because I've interviewed a number of general contractors over the years for my various real estate projects and am shocked at how the vast majority showed up to the job site to give an estimate in a vehicle that did not display their contractor license number or business name.Aside from this one issue, they'd often have great portfolios, long list of successful permits I could verify they pulled, great references, no complaints on their license, and had been licensed for over a decade.

I would use money from a HELOC that I have open to fund the down payment, but as @Scott Trench stated recently on the podcast, that is a short term solution, and I don't want to hold that $48k debt for more than a few months. 

I would recommend to buy in your local market for your first property... but I also realize every market is different and might not be affordable or the best solution.