Indianapolis has a strong event-driven market (Indy 500, sports events), so this company could be a good fit for those peak seasons.4.

Hi Morgan -It sounds like a DSCR portfolio loan might be a good fit for this scenario, given the rental income and the potential for self-management.

The community has amenities, is STR friendly, and excellent proximity to Jack Frost Big Boulder.

5) Miscellaneous - anything that doesn't fit in aboveAlso, keep in mind:1) Tenants all seem to want a brand-new home - and then want it for "free".

Below are some general notes on DSCR loans:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available

Tenant Relations: A property manager with excellent tenant management skills can reduce turnover and increase tenant satisfaction.

This gives him a chunk of money upfront to do with as he sees fit, ensures he gets steady income (with interest), and reduces his tax burden.

You aren't fit for being a landlord.

Do any of the properties not fit your Buy box today?  

I went back to see if I was doing anything wrong and those numbers line up within my excel sheet so really wondering.