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). 

My cashflow (right now) is neutral (I plan to refinance down when rates drop), and my initial plan was for appreciation to grow my net worth.

The only issue we have had getting the claims paid is when we filed against the renter's old policy and not their renewal policy, however our sister company in Denver (who initially turned us on to Rhino) have stopped using it after a couple of issues collecting.We have tenants carry 2x the monthly rent in Rhino coverage in lieu of a traditional cash security deposit.

While it is true that they don't bring in as much per night, they are a higher ROI because you invest so little and their maintenance and initial costs are so low.