My recommendation would be to get approved as a Landlord, contact the director's office and request that an inspection be completed before a tenant is selected (sometimes they will do this as long as you select a tenant within 14 days - which you want anyways), and have an online application and screening resource in place.  

.: Quote from @Trevor Finn: Hey @Kevin M.It sounds like you’ve got a solid plan to build passive income with a focused snowball strategy!

Sounds like the Goodegg got out over their skis but no doubt many other sponsors did as well.

Down payment of $13K including reserves sounds pretty low to me . ( Based on Maryland )

We just completed 6-unit one bed one bath apartment in midtown Sacramento, CA As we are considering doing MTR, your feedback on how to move forward with this plan is appreciated  

It sounds like you are not working with a realtor that knows the in's and out's of STR's in the area. 

DSCR Loans - Both Purchase and Cash Out Loans- Investors typically use these on the cash out portion of the BRRRR Strategy - Minimum Downpayment, usually 20% but some lenders offer 15% down - Max LTV on Refinances, typically 75%, but some lenders will do 80% - Minimum Title seasoning (since the property was purchased and recorded on county records) is 90 days, although some lenders have no seasoning at all as long as you can show rehab work completed. - 30 year fixed terms - Usually have a Prepayment Penalty from 1-5 years, although you can price out a 0 PPP for a higher rate or fee- Minimum Credit score is 650 usually, although you could do a lower LTV loan at 620. 

Hey Jason, All sounds great, This area sounds promising for my next investment property.

If I’m not mistaken you put around 50% down but I can connect you with a lender to get better info Hey Khalid - that sounds a bit higher than standard.

The checklist here acts as a roadmap, ensuring that nothing is overlooked.Knowing when your due diligence should be completed or when to close or extend your contract is of utmost importance.