Establishing partnerships with sponsors for real estate deals requires a significant level of trust, which is typically fostered through experience and time.

@Deborah Wodell With regards to platforms, I did some surface level vetting of Roofstock a few years ago.

If your value doesn’t meet the level for PMI removal Now, you will have to wait until it does.

We also tiled the entire first level because the property is partially built into a hill and this would help reduce moisture issues.We also added a stacked laundry center by the front entrance.

Savvy listing agents know these are toilet paper.Honestly there just isn't a great solution for folks starting out with deals that Fannie won't touch... maybe that says something about just how risky it is to start with 202-level deals instead of 101-level. 

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Here are the Fannie Mae guidelines for legally non-conforming properties:If the Property's characteristics are legally non-conforming, you must:ensure the Borrower executes the Modifications to Multifamily Loan and Security Agreement (Legal Non-Conforming Status) (Form 6275);confirm whether, if fully or partially destroyed, the Property's Improvements can be fully rebuilt to the pre-casualty condition per current laws, zoning requirements, and building codes; and if the Property’s Improvements cannot be fully rebuilt to the pre-casualty condition, evaluate if the as-rebuilt Property will support the Mortgage Loan at the current Tier, and document your analysis in the Transaction Approval Memo.To assess the Borrower's ability to rebuild Improvements on a non-conforming Property to a level that will support the Mortgage Loan at the current Tier, you should consider: conducting a threshold analysis to determine the resulting actual amortizing DSCR if the reconstructed Improvements cannot be rebuilt as-is per current law; the likelihood of a casualty event (e.g., wind, earthquake, fire, flood, mine subsidence, etc.); the percentage of damage to the Improvements at which the Property’s jurisdiction will require the Property be rebuilt to current zoning and land use requirements (i.e., the destruction threshold); which Property characteristics the destruction threshold percentage applies to, such as market value, assessed value, replacement cost, or unit count; for Properties with multiple buildings, if the destruction threshold percentage applies to each building, or all buildings as a whole; the replacement cost to rebuild per current requirements for zoning, and land use; the Property’s continued marketability, and economic viability; the amount and type of Borrower-maintained insurance coverage required per Part II, Chapter 5: Property and Liability Insurance, Section 501.02C: Ordinance or Law Insurance; insurance loss proceeds payout, compared to increased rebuilding costs, including from building code changes, Americans with Disabilities Act compliance, and the municipality's local zoning requirements (e.g., green compliance for new buildings, etc.); the sufficiency of estimated insurance proceeds from ordinance or law insurance and other coverages to repay the Mortgage Loan in the event of partial or full casualty, or condemnation; and for a Tier 3 or Tier 4 Mortgage Loan, if requiring execution of the Limited Payment Guaranty (Form 6020.LPG) would mitigate the risk of the as-rebuilt Property not supporting a Tier 2 Mortgage Loan.

@Natalie Johnstone I’ve used niche.com to get a high level sense but I wouldn’t base any decision on it.

And investors are going to the secondary markets around Charlotte, or they are using creative strategies such as rent by the room, to receive some level of cash flow.All that to say, I grew up in Ohio, and it was always a good cash flow market.

But eventually you take the leap… you decide to go for it and you tread water until you can swim to the next level of your future.For me, I was about 20 attending a photography seminar as a store employee and the day I heard that phrase it hit me… I’m going nowhere being the employee.