You wouldn't need a pure commercial mortgage, you can do LLCs with DSCR loans, which are pretty similar to conventional loans, just more investor friendly: can do LLCs, qualify off property income not personal income, 20% down and 30 year term5.

Expenses: Mortgage: $3655.55,Property management: $470, Water: roughly 100/month.

Mold had grown on 3 of the 4 bathroom walls and water was all under the sink cabinet and on the floor.

This stunning home boasts New hurricane impact windows, Newer Water Heater, A/C- 2020, and Roof -2017.

City water or well water?

A few days after signing the contract the seller left the back door open and a pop up thunderstorm blew in rain water ruining the bamboo floors.

with maybe the exception of a parcel that is clearly served by city Sewer Water and have power and Tele / internet to the lot lines.. and you have double checked the hook up or Systems development charges and if they have capacity.. keep in mind many parcels in subdivisions that were basically built as recreational subdivisions decades ago.. ( think GLEN GARY GLEN ROSS and for sure watch that Movie is exactly how the industry was in those days) the original infrastructure was allowed to be built to maybe serve 20% of the development that was legal and now you have moratoriums and assessments etc etc..

I'm curious to hear how these are set up in newer developments where city water and sewer are too far away.

Generally - you can make a referral fee on these types of loans if they are 100% purely business purpose - a lot of the restrictions and issues come from anything consumer-related. 

New flooring, new cabinets, new tankless water heaters in 3 of the 4 units.