A failing I see in BP participants, which cannot be corrected is proper due diligence.

I have found that those with the proper knowledge in how the software works, and of course know how to use the software, would agree with your post, including myself! 

Lots of these new construction builds were done very cheaply, and since it is wood framing with siding, flashing stucco, etc; if the proper flashing drippage and caulking wasn't done correctly you will often find leaks.

Some things I do to avoid bad situations: screen well, only have properties in good locations where people actually want to live (I find tenants behave better when they know they have a good thing going for them and that they are easily replaceable), set proper expectations, have a rock solid lease, go over it with new tenants to make sure everything is clear and agreed upon, and enforce the lease by issuing a formal notice to pay or quit every single time rent is late by even one day (and charge the late fee), or a formal notice to cure or quit every time there is a lease violation.

A well coordinated and planned construction project due to the professional services yields less headaches, surprises and saves time which overall saves you money.   

Hello, my wife is an optometrist and we are looking to use a physician loan to purchase our primary residence.We have some debt that we would like to payoff through a DSCR cashout refinance in am existing investment property I currently own and from there we hope to be in a good place for the doc loan.Our challenge is finding a lender that can handle both the DSCR cashout refi and the doc loan, since coordinating two separate contacts seems to add extra challenges.If you or someone you know can do physician loans (for optometrists) and also DSCRs I would appreciate being in touch.

This includes getting comps or an appraisal to verify value, lenders title insurance,  a proper note and mortgage,  and you must be listed as a mortgagee on the borrowers property insurance policy.Our lending criteria in our lending business caps our loans at 65% of the after repair value and we control all rehab funds as we hold them in escrow. 

Give them proper notice, keep it friendly, and explain it’s all about fairness to match market rates.A little empathy goes a long way—help them understand the rising costs, and they might just thank you for it (okay, maybe not thank you, but they’ll get it!).

Rehab: Coordinate with local contractors to perform quality, cost-effective renovations to increase property value and rental potential.3.

When you have a turnover, someone needs to inspect, coordinate and supervise turnover, show to potential renters, etc.