If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

There's enough ARV to satisfy the acquisition and rehab cost but been having issues in finding lenders to lend on them.

This means the seller-financed loan becomes secondary to the new mortgage, which satisfies the lender's LTV requirements.How It Works:Lender issues a new 75% LTV loan based on the property value.The seller retains a subordinate lien for the remaining balance until paid off.No additional cash is required from you.”

If the building is currently recognized as a single family residence,  then you are changing use and presumably will need to sprinkler the building and satisfy other fire rating and STC rating requirements not to mention the added costs of having to run mechanicals for multiple units, multiple kitchens, additional bathrooms etc.  

There’s not a satisfying amount of juice in the Detroit market.

Even in New York, there are deals to be found that will satisfy the 1% rule, but that is the part that takes work.

While you may be able to measure energy to some precision that you are satisfied with close to the point of delivery - what you will have a very tough time accounting for how those losses are split amongst your units.

Satisfied guests aren’t just likely to leave glowing reviews—they may also spread the word to friends or choose to rebook themselves, keeping your property consistently booked and increasing your revenue!

The building has a metal exterior finish with large bay windows and a durable brick.

I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.