A monthly fee (typically around $5-20/mo) is added on to the payment.

I would read up on "Squatters Rights" laws and how long a typical eviction takes to execute.

However, one tenant isn’t paying rent, and it looks like I might have to go through the eviction process.When evaluating a rental property, do you typically use the 1% rule?

Typically this means they will take longer to close, may not have all the information for the companies they work with, and most hard money brokers get their money by taking an existing product and adding extra points to pay their fee.What is your investor success rate?

The partials we purchase are usually on shorter term notes i.e. 120-240 month terms and investor loans to other investors that typically put 15-25% down. 

I would look at the DSCR loan as the first option.By the way, I suspect you are going to be disappointed by any refi appraisals   ADUs typically appraise poorly   JADUs can lower the property value Vs having the space as part of the primary unit.  

The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

For example, State Farm typically requires the latest inspection report for underwriting on multi-family properties that are over 30 years old.

We typically see FICO scores in the 560-620 range for Class C, below 560 for Class D.Recommend only looking at convictions & evictions in the last 2-3 years, ignore older ones.Focus on the last 2 years of employment via YTD paystub and 2024 & 2023 W-2's.

Private Money or Hard Money LoanHow it works: Short-term loans from private or hard money lenders to purchase the lot and finance the construction.Benefits: Easier approval and faster processing, focusing on the property value rather than your income.Downside: Higher interest rates and shorter loan terms (typically 6-18 months).