Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

@Phillip Austin we've looked into these and it's our opinion they should only be used with Class A tenants, maybe Class B - deifinitely NOT Class C or D tenants.Several companies in this area will no longer allow S8 leases or tenants under 600 credit scores - because of the high number of claims & corresponding claim amounts.

This will give you more time to shop rates/fees than to be under the gun with a purchase loan. 

For multifamily deals, positive cash flow often comes from finding under-market rents where you can add value through light improvements or operational efficiencies.

Under contract to buy a home that needs to be completely torn down. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Have some real estate under my belt but looking into Short term rentals opposed to long term rentals.Wondering if there is a stand out book to read to gain understanding for Australian Short Term rental market/AIRBNB.Also if there is a specific group for Australians and short term rentals for Australian market/Australian tax system etc, do point me to that.Rod

The first after they acquired my previous management company and the other because I foolishly decided to keep both properties under the same management firm.Funny enough my problems didn’t begin until I assigned the second property to them.

Your advice about understanding the underlying accounting and how the numbers are generated is an excellent point—I can see how that would help me identify any gaps or inaccuracies in the financials.I also really appreciate the insight on how T-12s differ based on the number of units.

I'm having a hard finding lending due to most construction lenders requiring at least three new builds under your belt.