I toured the property when they were home and they asked me how the living situation was gonna work, which I explained that my loan said that I had to live on the property for a year, and the tenant next door was on a year lease & he was month to month... so he was going to have to leave.

What loan size and loan to value?

Another struggle i have with STR is replacing small items continually which ties back to pricing.

If you have multifamily commercial loans, you will likely have to repay the loan in the near future instead of having the payments applied to the end of the loan. 

I've been in the lending industry for 5+ years now both as a loan officer and a broker and a processor, have also done some UW.Over the years, I have seen how lenders and brokers spend marketing dollars. 

I have a registered architect and structural PE on staff.Looking in the small multifamily market currently

Large apartment complexes flooded the market with inventory and are offering crazy incentives and amenities that crush the small landlord which can make finding a tenant challenging and often for less than market rent. 

It’s inexpensive to provide but can make a big impact.Comfortable Bedding: Investing in high-quality mattresses, pillows, and linens improves the guest experience and leads to better reviews, which can boost occupancy rates.Smart TV or Streaming Services: Offering Netflix, Hulu, or similar services is a low-cost way to enhance guest entertainment and stay competitive.Fully Stocked Kitchen: A well-equipped kitchen with basic appliances and utensils appeals to families and long-term guests, saving them money on dining out.Dedicated Workspace: If your property caters to remote workers, adding a small desk and ergonomic chair can set your listing apart.Outdoor Spaces: If your property allows, an outdoor seating area, fire pit, or hot tub can significantly increase your nightly rate and attract more bookings.Energy-Efficient Features: Guests appreciate eco-friendly options like LED lighting, smart thermostats, or solar panels, especially in eco-conscious markets.Keyless Entry: A smart lock is a relatively small investment but offers convenience and security, which many guests value.If you’re deciding on amenities to add, it’s always a good idea to research your local market.

Everything you need for asset management on small or medium portfolios without much frill.

If I just bit the bullet at $1,000 dollars and gave it back to them so they could leave I would have saved $19,000 and 6 months of time.