It really depends on the scenario.If someone is in deep waters, BK, foreclosure, terrible credit, etc.You don't want to be above 60% LTV as that borrower has an incredible risk of default.

The paperwork to get them setup almost always meant my first rent check from agency would be about 45 days after lease start, so you need to float that.Tenants always paid with Money Order or cash, both required an actual visit to bank versus standard check that could be mobile deposited or ACH.Neutral:My tenants were not "light" on the property, but generally not overly hard either.  

Under the $100k property example, something as common as having to replace the sewer line will put you under water and you are more likely to have to come out of you personal reserves to cover operational/cap ex expenses or debt service than in my $6M loan example.Remember cap ex and operations are normally more easily absorbed in the A location assets.

We were able to work a deal in the last 2 weeks before it was finalized, we had to pay the max amount of interest for back taxes and water bills and liens on the property.

Water DamageWater is a natural enemy of mobile homes.

Its a good question and lots of resources here on BP to learn - generally going the "conventional" route with mortgage loans from private lenders that conform to GSE (Fannie Mae) standards is great for your first few, then many switch over to "DSCR Loans" when they start scaling towards property number 3,4,5 etcI recommend talking to Jeff Welgan at Bluprint home loans to talk to to learn about the conventional options https://bluprinthomeloans.com/jeff/Also feel free to check out these resources on "DSCR Loans" which don't use DTI at all and are really good for scaling:BP-Published DSCR Guide!

There was a water leak in a bathroom which required a full renovation of that bathroom.

I am smart and know when the ship of the industry is sinking or taking on water.

All in all, the home is older but that is standard for the neighborhood and I have a solid amount of equity in the home currently.Recently, my dad said he is retiring and moving out of California. 

I remember when I bought my first investment property..it felt like navigating unchated waters, but it was one of the best decisions I ever made.The BRRRR method is a powerful strategy.