After the 12 months payments above you qualify for the exception so you're back to regular/normal LTV's which depends on your occupancy  - second home/primary/investment - it all varies. 

It does put the buyers agent in some awkward positions though when they make an offer and then we counter removing or drastically reducing the commish.. the Buyers cant understand why their agent wont work for 5 to 10k.. compared to 15 to 20k on the what used to be normal 3% buyers side..

It is my opinion that the jolt in Smokies pricing showing a decrease is the return of pre-COVID occupancy with unseasoned investors (or forgetful investors) not knowing what normal was.

If you could pick up this house and drop it in a normal market you could charge 5x as much. 

I'd ask the PM if they normally lease to tenants without collecting a deposit. 

My investor only had to do repairs from the section 8 inspection that he normally would need to do for the safety of his tenants. 

Or it can be postponed until a future date (say normal turnover).

At that point you would just pay the tax as you normally would. 

If they are so stubborn or shortsighted to see they get more this way than an outright sale, then just do a normal outright sale.

The primary calculation is based on X% of purchase price (depending on lender policy and borrower credit/experience) + 100% of rehab (normally).