Our minimum Standard is 620 credit score, 3x rent in monthly income, no prior evictions, and last 3 landlord good reviews.

It's comforting to know I don't have to obsess about reviews. 

I really wish I had seen a detailed review of Foundation Property Management (FPM) or TurnkeyInvest here on BiggerPockets before signing on with them several years ago.

.✅ Review ECB (Environmental Control Board) Fines – Some violations carry daily penalties.✅ Look for HPD (Housing Preservation & Development) Violations – If the building has tenant complaints, HPD may have issued orders for repairs.✅ Assess FDNY Fire Code Violations – Missing sprinklers, blocked exits, or outdated fire alarms can delay approvals.📌 How to Speed Up the Process:Working with a permit expediter can help clear violations faster, making it easier to close deals and begin renovations sooner.🚨 Red Flag:❌ Buildings with pending lawsuits – Some compliance issues involve legal disputes with the city or tenants.Step 3: Close the Deal & Start the Legalization Process 🏗️Once you acquire the property, the first priority is to resolve violations and legalize any unapproved work.✅ Hire an Architect – Architectural plans must be submitted to the DOB for any structural changes.✅ Expedite Permit Filings – New permits may be required to bring illegal units, extensions, or renovations up to code.✅ Negotiate Fines & Penalties – Some ECB fines can be reduced or dismissed if corrections are made quickly.✅ Apply for Variances (If Needed) – If the building doesn’t comply with current zoning laws, a zoning variance may be required.📌 Why Speed Matters:Multifamily buildings with violations cannot be refinanced or sold easily until compliance issues are resolved.🚨 Red Flag:❌ Delaying compliance work = higher penalties – NYC charges escalating fines for unresolved violations.Step 4: Renovate & Ensure Full Compliance 🔨Once permits are approved, it’s time to start construction and bring the building up to code.✅ Address Safety Issues First – Fire alarms, sprinklers, and structural stability must meet DOB & FDNY regulations.✅ Schedule DOB Inspections – Plumbing, electrical, and mechanical work require multiple approvals before closing permits.✅ Comply with HPD Housing Regulations – If the building has rent-controlled or rent-stabilized tenants, ensure all renovations follow tenant protection laws.📌 Smart Strategy:Renovating to increase unit count (legally) can boost cash flow while fixing violations.🚨 Red Flag:❌ Unauthorized tenant evictions – Rent laws in NYC heavily protect tenants, and improper removals can lead to legal trouble.Step 5: Close Permits, Remove Violations & Secure a Letter of Completion✅Once the work is done, the final step is closing out permits & obtaining a Letter of Completion.✅ Final DOB Inspections – To ensure all corrections meet code.✅ Clear Violations from City Records – DOB, HPD, and ECB must officially dismiss violations.✅ Obtain a Letter of Completion – This proves the building is fully compliant and legally occupied.📌 Why This is Critical:Unresolved violations = major financing & resale issues.

Even if you personally have just a modicum of design aesthetic sensibility, after reviewing 20 or 30 properties, you will quickly be able to get a sense of the winners.My 2 cents,Mike

Since it sounds like you are working without a real estate agent, I would contact a lawyer to review the contract and help you notify the seller's side correctly to terminate the contract and release the EMD.

Never put all your eggs in one basketread the PPM and documents and have an attorney review understand what your investing in, fees and hold Timeunderatand their track record a lot more to consider those are just a few 

People love it, and for only $13, its worth the price of an enhanced guest experience and higher chance of a 5-star review.  

Hey @Andrew Self unfortunately, Bigger Pockets doesn't have a way to sort lenders by # of BP references or google reviews but I highly encourage you to research ours.

Also make sure you get reviews that speak to the experience you’re trying to promote.