My advice is to have at least a 15% contingency reserve going into a rehab and your numbers should work out better.May your bottom line always be above the water line!

Hi @Kent Kettell, assuming you're running the numbers on your end, any loan offer that enables you to acquire the asset given your level of cash reserves and reach your target ROI at the expected project duration, net of financing costs.If you don't already have a useful calculator to assess cost and profitability associated with fix & flip projects I'm happy to share a copy of ours!

A lot of DSCR lenders are technically POF lenders as they only qualify on 4 things: 1) valid driver's license 2) FICO score 3) rent is more than the PITI of the proposed property and 4) proof of funds for the down payment and closing costs and reserves.

Here’s a rule of thumb for allocating your cash reserves:1.

In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

Furthermore the local experts can confirm the following: (1) the use is allowed, (2) the use requirements can be protected by permitting and licensing and (3) the permissions are transferable through a sale.

I think my big question is the 7 day minimum, I haven’t actually called the offices to confirm but 7 day minimum is not good for business   @Joshua Messinger I would love to see what the numbers look like through as many sources as I can get.  

This is why it is important to enlist the services of an attorney sooner rather than later and have a reserve fund to cover all expenses until you are able to take possession of the property.

I need to confirm with the lender but assume any such "partial" payments would have to be substantial and equal to at least 10-20% or more of the total loan?

Once closed contact Airbnb and tell them the situation, having all reservation codes ready.