I would also target ones that are ideal for renting out when you move out so maybe do a lower price point. 

Just closed on one for a client over the hill in Reno, NV, that was sitting on the open market and they took an aggressive offer. 

If anyone has an end lender that has successfully closed a handful occupied padsplit loans and can underwrite based off actual padsplit rents I would really appreciate an intro.

The thoughts that are running through my mind being this close is creating a nightmare in my mind that needs to be calmed.   

Our offers include clauses allowing us to do our due diligence before closing and protect Earnest Money Deposit (EMD).

That means their pricing tool is designed to price beneath the rest of the market, which drags the entire market down, especially when combined with their algorithm changes a couple years ago that made pricing (IE lower prices) the #1 factor in ranking.Even if you use an external pricing tool, it gets dragged down by the people using Airbnb's pricing. 

@Tom Rairdon If you’ve owned your short-term rental (STR) for over a year, it likely qualifies for long-term capital gains (LTCG) treatment, taxed at lower rates (0%-20%) compared to your 33% ordinary income bracket.

You can theoretically have a higher rate from one lender with lower origination fees and total finance charges may come in lower.  

The DSCR loan would allow you to qualify based on the rent you are collecting and get up to 75% of the value (175 x 0.75 = 131.25k, minus 20k payoff and closing costs.You could get a line of credit or a bridge loan against it to borrow money, but it would be higher interest.

Hre are the key things to knowWhat you are bidding on - often oddball properties that are hard to identify and have little value are auctioned offThe true as is value of the property, The tax assessment can be way higher or way lower than the true as is valueThe local laws and how they affet your total costs and returns