So this program is between the property mgmt company and us, mostly. 

LLCs are ineligible for FHA loans and other government-sponsored mortgage programs

They're expensive, but I know several people who have gone thru each program and become what I think are successful investors, moreso than other programs. 

Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

Jillian,You can solve two problems with just using a DSCR program to refinance pull cash out and then close in an LLC. 

I am not familiar with this exact DPA program.

For my clients, I like Easy Streets bridge purchase and STR DSCR programs. 

Most of these program qualifies borrowers with income and very few DSCR.

We also have the RTR Academy, which is our online investing education and coaching program for those who want a bit more guidance and structure to help them expedite their goals.

Hey Jonathan, I have great programs for investors and no minimum loan amount!