We found it is helpful to one of the our target groups of residents, first-time, working-class tenants.

Purchase price: $34,700,000 Cash invested: $7,500,000 192-unit institutional class B+ property located in between the Research Triangle Park area and Greensboro, NC.

Is anyone interested in a class action against this company?

@Jerry TilleyAsset based is going to be a different Non-QM program than a DSCR and typically higher rates than a DSCR.However, mid-7s on DSCR is high in the current environment and given the info you've provided. 

Oh wait, I think the class action participants might get $50 each.

Say what you want about that but I'd be looking out for myself and if the person doing the reference checks isn't smart enough to go back further... that's on them. in markets for rental areas that have high proportion of tenants  like the mid west were something like 50 to 60% of all folks rent.. your telling the truth flat guarantee most landlords with a bummer tenant is going to say anything they can to get them to move on.in nicer areas of A class 700 fico tenants this is not really as big of an issue

They buy homes in upper middle class to lower upper class neighborhoods which represent solid appreciation potential and reasonable upkeep/taxes/insurance expenses.  

As your new Landlord, it is my high honor and distinct privilege to provide you exceptional management, prompt maintenance, sound hospitality, and a quality environment to call home!

Besides, some actually see it a as a "sign of professionalism" (it was kinda odd to me at first) when they realize that I have multiple properties.I would agree, however, that if you are investing in some lower class neighborhoods as has been discussed on BP, I would need to take steps. 

In most C-Class areas in Detroit, for example, tenants are bringing their own appliances.