Do you think this issue is specific to banking services or what do you think is the root cause?

First, ensure you’re working with a lawyer experienced specifically in landlord-tenant law in Massachusetts.

JoelIt seems to cater specifically to agents. 

There are alternative programs out there with reduced cost, but you are typically looking at 20% down. 

As a student without W2 income, you may need to show alternative income sources like savings, freelance work, or a job offer.

Quote from @Catherine Ding: My PM company is offering to do it for a high fee of $100/month so I'm trying to find alternative options.

Feel free to reach out if you have any specific questions about the area.

It has a lot of features that I simply can't write down all together.Zoho SalesIQ it integrates with your websites for real time chat supportZoho Workdrive, this is a Google Drive alternative except Zoho gives you 5 TBs right of the bat!

Meanwhile, co-living models like PadSplit are winning legal battles, proving to be a sustainable, long-term housing alternative.🔹 Airbnb is Facing Increasing Restrictions:New York City has implemented strict rules requiring hosts to register and be physically present, effectively banning many short-term rentals.Dallas and Atlanta have passed zoning laws banning short-term rentals in residential areas.California cities like San Francisco and Los Angeles are ramping up enforcement with hefty fines for non-compliant listings.🔹 Co-Living is Gaining Legal Ground:Colorado eliminated all restrictions on the number of unrelated adults living together statewide as of July 1, 2024, marking a major victory for co-living advocates.This week, Jacksonville Municipal Court ruled in favor of PadSplit, voiding citations for “illegal boarding houses” on constitutional and fair housing grounds.Cities like all over like Washington D.C. are considering zoning reforms to allow more co-living developments as an answer to the housing crisis.As Airbnb restrictions tighten, co-living is emerging as a scalable and legally sound alternative that balances affordability, tenant stability, and community needs.

Your goal is to build a passive real estate portfolio (we can discuss what passive means to you), so while I don't condone throwing $100k into a deal without even a basic understanding, alternatively doing so will teach you far more lessons than reading a book will.