Here's the thing about ALE and similar agencies: they can be a goldmine, but you need to adjust your approach to meet their demand sweet spot.

I have financed a number of STR properties and they will usually be appraised as a pure real estate as vacant value and a cash flow adjusted commercial value, sometime separated as going concern and real property.  

There’s more books available to speed up the learning curve now then there were a few years back. 

Hello all. This is my first post on Bigger Pockets as I get going into my real estate journey. I'm currently in the market to purchase my first home (currently in an apartment). I'm looking to acquire my first BRRR. I...

Get a bank statement to cross-reference their paychecks as most employers now direct deposit.You'll also see if they have a savings history or are living paycheck-to-paycheck.If they are not paying rent right now and have no savings, how well do you think they'll be able to adjust their budget, so they can pay rent on time?

Now, let's adjust structure type as that alone will get some really good focus right.

Here’s how it works:Population Decline or Stagnation: If the population is static or shrinking, the current housing supply meets demand, and property prices decline (in inflation-adjusted dollars).

Did you have an ARM that adjusted?

Make sure when the new hardware is installed adjustments are made if needed and repair any damage to door jamb. 

I also added language to make it clear that any temperature adjustments should be reasonable, so it’s not left open for tenants to make claims.