The new ordinance only applies in the city of Kansas City, Missouri (KCMO). 

How much do you plan on applying towards down payment?

Cap rate doesn't apply that well in this business because expenses can skew the numbers greatly.

@Johnathon Thompson you need to build a trustworthy local team, which is NOT as easy you everyone thinks.As soon as many PMC's, agents, contractors, etc. hear an owner is OOS, they take the path of least resistance (at best) or look to scam the owner.So, an owner must ask a LOT of questions and do their due diligence and even if they find someone, apply "trust, but verify":)

When you apply for a mortgage, each bureau (Equifax, Experian & TransUnion) uses a different model.FICO® Score 2, or Experian/Fair Isaac Risk Model v2FICO® Score 5, or Equifax Beacon 5FICO® Score 4, or TransUnion FICO Risk Score 04A no score response from the credit bureaus means you do not have enough open & active accounts to generate a score.

My questions is how does section 121 apply in our situation(married couple)? 

Late 2023 Tenants placed Oct/Nov/Dec 2023Portfolio  6.95% loan/cash our refi 400K from first build,  apply  200K to each of the next two builds, 70K  cash from investor partner 2.  

Does the same apply to a STR (of course there's no lease, but there are reviews and established revenues)?

We need to establish SOPs that can universally applied regardless of how stable the residents' relationship seems at the time of move-in.

I made it abundantly clear verbally and in writing that I need receipts and invoices for work completed, because it was to be applied against a tenant security deposit.