Quote from @Jonathan Morgan: I'm seeking a new metro Detroit property manager, as my latest property manager absolutely destroyed my cash flow over the last year.

Just like everything in the Biden administration is targeted to destroy the middle class and small businesses

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.

A good policy for a place where nothing happens or one for total catastrophic insurance - the type where a fire destroys the house, or a tornado takes it away, including the bed bugs.

And the gurus have just about destroyed this industry that I have been in for 20 plus years.We have closed well over 10,000 wraps (I use wrap to mean assumption and wrap) in the past 20 years or so. 

You don't know any roofers, so you just pick one out of the yellow pages (yeah, I'm showing my age) and they got 1/2 way done and then went to do another job and it rained, destroying your roof? 

This destroys that logic and I will lose a lot of money.

Anything can happen: the market can shift, we can go into another extended lockout period, the property can be destroyed by a natural disaster or by vandalism, the list of contingencies is endless.

It is not the Dems who destroyed academic freedom in Florida.  

Using a PM will destroy the return.