We're most likely looking at multi-family (initially) in lower cost of living regions simply to make it affordable for us to get into the game. 

I would recommend you google Cleveland "Residents First Initiative " .

In these initial stages, focus on building your core4 of agent/deal finder, lender, property manager, and contractor for the market.

PM is able to file an eviction on owners behalf in FL, as long as it is for non-payment and uncontested, and the owner give authorization.John, I'm confused as I didn't say a PMC couldn't file.I stated they couldn't represent an owner in court.That implies that an attorney is needed at some point.What most PMC's in Michigan do, is send out the initial eviction notice and when needed, send that notice to an attorney to file a case with the appropriate court. 

He actually recommended that I go with an even lower price than I was initially willing to, to ensure I wouldn't lose money on my SBA loan estimate.

I was wondering when it comes to finding a hard money lender for rehab costs, is it a general rule to pay for a percentage of the rehab initially?

Maybe I didn't explain it well in my initial post, but without my knowledge, the tenant assigned her security deposit rights only to the attorney who created a separate LLC.

You shouldn't have trouble getting hard money for the initial purchase under an LLC.

This is straight out of my paperwork: Loan Program: 30 YR FIX - SEQUOIA - DSCR >= 1.00 - 5% PPP - 5 YR PPPAnd getting back to the initial post - as usual, we only have the information the OP provided, so it's difficult to advise, right?  

My initial infant level of knowledge would tell me it's a combination of being poorly managed (I calculated they're spending nearly 65% on expenses to only have $305K NOI on 95% occupancy at $875/m, if that's even the average rent/unit currently occupied).