The Lead investor is the one finding the property, setting up management, raising money, managing repairs and upgrades, dealing with insurance, making distributions to investors and completing all the tax documents for the investors. 

Document everything.I just had a guest at a property that I manage ask for a full refund for a stay he booked last minute, ignored paying a pet fee, ignored my request for the pet fee, asked for an early check in.  

Highly recommend using leases as well as legal documents from Evict.com.

Etc....everything should be very detailed/itemized and hyper documented.

I have photo documentation and videos of all of this.At the end of the day insurance would not cover this and we had to pull the claim.They are charging us for the full amount and I’ve been able to reduce it by about a 1/3 from $3000 to $1900. 

Hey Julian, As others mentioned, DSCR loans will be underwritten based off of the appraised value or cost basis (purchase price + documented rehabs) depending on seasoning period when you are looking to refi.

Avoid any communication with this tenant that is not documented (like email).

They don't provide tax documents on time, which cause significant headaches. they don't provide proof of cost mitigation studies unless you threaten to sue.I am a seasoned investor and I got duped in their flowery talk.

-What kind of evidence / document is need for the back up?

Hi Jin, That information should be in the master association documents you should have received when purchasing the property.