There tons of old duplexes that need renovating, and vacancy rates for a nice product are very very low like 1-3%.

They followed up right away on my pre-approval application that I submitted online.The appraisal (which usually seems to be a bottleneck with other lenders) reached out right away, even before my term sheet was finalized.Now here is where I feel a bit frustrated with their product marketing and what I actually got.

There are some products out there that will go to 80 CLTV but pricing will be much better at 75%.

I urge my fellow lenders to utilize the power of google before they try and put borrowers into less advantageous products like DSCR loans. 

There is a price discount, and your sales rep will inform you of "specials" on products you may be interested in from time to time.

The relationships to bring the product to market or to a distributor.

There were also pre-payment penalties that were associated with that loan product.

I'm glad you two were able to connect.Although we have a pool of conventional and portfolio lenders, the challenge today is there are not a lot of "stated income" loan products.  

By providing this a quality product with managed expectations and professional management oversite, this property continues to cash flow well and consistently.

There are way to many PM's not getting properties rented and they are staying vacant, there is also way to many rentals being rented less than market rent to get a "quick tenant" causing investors to lose money, you will also need that PM to be completely productive and quick to the applicants and also not trying to incentivize off of your property needing repairs.