I'm an independent agent here in AR and I write a lot of rental property, with ~6 preferred markets and if the properties have some issues, age, claim history etc.

The same issue? 

Second biggest mistake is failing to realize these construction loans allow draws on improvements meaning cash expenditures are required before the first draw can be issued.

We were fortunate in that we didn’t have too many issues with crime.

The Fannie and Freddie programs handle this issue slightly differently.

@nicholas LThanks for sharing those links Nick!

Does anyone here faced similar issue ?

If you can find practice tests, that is my recommendation - that is what I did after taking the required time component and did not have any issues passing the test. 

It helps to ensure everyone is on the same page and can save you headaches if issues arise.If you need further guidance on structuring these points or tailoring them for your project, feel free to reach out—I’d be happy to help you get started!

Assume a couple of months of vacancy, consider potential unexpected repairs (like HVAC or plumbing issues), and test the numbers with rents dropping by 10-15%.