So I wont say not to buy cause I have and it has paid well but getting anything appraised is PAINFUL.

Trying to get an owner occ loan was a chore ended up getting it done but what a pain.. owner occ underwriters are used to very simple tax returns and when you have more complicated ones it just takes longer..

It's a pain, for sure.  

The virus has impacted a fund like AHP mostly in administrative delays with foreclosing on properties and getting them converted to REO properties for resale.

Weeks later found another buyer, barely qualified, a pain to work with, does not respond half the time, red flags all over, seller is motivated.

They have rules and best practices about how we put these deals together which has collectively saved us from much of the pain being experienced right now in the multifamily space. 

The syndication real estate funds have seen and will see some pain.

Like almost everything else in life: Short-term pain for long-term gain!

In each category, note how much you are bothered or stressed on a 1 to 5 scale, with 1 = not bothered at all and 5 = stressed out: Pain Points Stress1 to 5 Pain Points Stress1 to 5 Unit turnover Exterior maintenance Advertising for available units Deferred capital expenditures Tenant screening rules Plumbing or electrical emergencies Tenant selection / discrimination rules Mortgage payments Documenting move-in conditions Bookkeeping and bill paying Documenting ongoing conditions Taxes and insurance premiums Dealing with tenant complaints Risk of late payments or non-payments Dealing with neighbor complaints Risk of property damage or vandalism Mold, termites and rodents Premises liability Interior maintenance Evicting tenants If your completed table has mostly 1s and 2s, then congratulations—you are a happy landlord!

If any of your properties are discovered by City officials to be unregistered, you can receive an administrative citation for failure to register; this penalty can cost $100 or more per property.