I think the only legal way a seller could get that assurance would be to close the loan in 2nd position, and after everything was recorded you sign a new promissory guarantee or other collateral in case of default. 

I have not heard of them, but I would make sure, especially since they seem to be a new player in the space, to ask them the questions that are outlined on the "Best Questions to ask your DSCR lender for STRs" post on this forum: https://www.biggerpockets.com/...

(Turn-Key- meaning, they don’t have to deal with Tenants, Toilets, or Trash)In other words, all they have to do is close on the carefully vetted properties we bring to them.We provide property management, title, attorney and Insurance.We even screen tenants, deal with the various gov’t programs and provide a 3 month rent credit on the HUD.You’d see a firm that believes in keeping all investors continually “in the know” about their investments.And if that’s what you see, you’d be partially correct.But by taking a deeper look, you’d see that we’re much more than that…People choose us based on four main criteria…✅ Relationships✅ Accountability✅ Integrity✅ TransparencyIt’s about operating with integrity to build trusting relationships, being transparent with both successes and failures, and taking ownership through accountability…Focusing on taking care of our greatest asset, which is the people who choose to align with us.We want them to be able to lie down at night and sleep like a babies because they know we have their best interest in mind and always working to proactively solve any issue that may arise.To be 100% hands-off, while enjoying the passive income that hits their bank account every month.Just as sure as the sun rises…To the tune of double-digit net caps WITH equity.We conduct extensive research to know which markets present the biggest opportunities, which reduces risk and maximizes upside.And the best part?

You are the power player so use your power to hire others to handle this. 

Commercial is much more of a relationship/who you know business so your job is to know more people who are the players in your area.

I can assure you, this will cost you more money before it's over.

My take away is that you have found that, at least in your setting: 1) You don't have any expectation of getting tenants for a new property during the semester in which you closed on the property. 2) Having a long lead time of several to 10 months before the semester starts to market the a property helps assure that the new property is filled when the semester starts. 3) Because of these realities, it makes the most sense to close on a new property about 10 months  prior to the fall semester for which you are targeting the best rate and occupancy, to give plenty of lead time for marketing. 4) Expect, therefore, that whenever a new property is added, at whatever time of the year the deal closes, expect to have no income for several months, but it pays to market as soon as possible. 

Hey Liz,As a loan officer who has completed more than 2,200 loans in Minnesota, I can assure you that attorneys are completely unnecessary, and expensive in Residential Real Estate in MN. 

You really have to have a game changing product to make it worth larger players to switch.

I assure you, I’ve been around the block a few times—though not quite as many times as I’d like when I’m out running errands!