No harm intended.

This is good for the community and no harm comes to anyone (seller, buyer, or bank).

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

That rule is bull&*$#, and it's doing more harm than good for those of you applying it. 

If the bank says it's ok though, and they'll give you the money, no harm in going for it.

Certainly if they feel that they have been harmed they should seek legal counsel.  

While Democrats have defended the Bureau’s structure and pointed to the more than $11 billion returned to consumers that the Bureau has deemed financially harmed, the CFPB has been harshly criticized by Republicans who believe it to be an overreaching agency whose power is unchecked.The court’s ruling noted the power of the Bureau’s director, stating that, “In short, when measured in terms of unilateral power, the Director of the CFPB is the single most powerful official in the entire U.S.

As long as you are below a 2.5:1 then you will look okay ( typically).So, with the being said, really your lack of experience won't harm you as long as you are strong financially.