Both of these are niches that only select banks/lenders specialize with.

We were married recently, and when we add in our wedding gifts with what we have been saving on our own for years, we feel that we are finally ready to pull the trigger on our first property purchase.We actually live about 90 minutes south of the ski area that we are looking to invest in, but it is an area that I am very familiar with as I have been going there my whole life.

I have personally never owned a condo that DIDN'T have a special assessment - which happens when there is a repair needed but not enough money to pay for it. 

This one was special because it was completed with a new team of investors and we have already placed 10+ deals under contract in the last 2 months.

Also, after learning the system, setting up rules, and learning how to address my specific special situations, I spend about an hour a week managing the books for 35 doors. 

But you’re right, that’s about the average but depending on how nice the home is, whether each resident gets a private room, and the level of care/specialization, will all factor in! 

Half of my portfolio is OOS, and I haven’t seen most of those, even after 10 yrs, but I get trusted people to take pictures and I send specialized trades (plumbers always and sometimes electricians) during DD period.

But as you can now guess, I'm not a big fan of trial period special rates, offered just to get you to jump from a low FIXED rate, to an even lower TEMPORARY rate!

I have been working in the real estate industry since 2010 and have specialized in working with investors here in Florida for a number of years...you are absolutely right, it is typically VERY difficult to find decent small multifamily properties here.

Additionally, are there companies that specialize in doing this or helping the owners through the process?