If you're living in it now, you'll probably be required to have a signed lease in place as well as proof that first month's rent/security deposit were collected in order to get a DSCR loan (they're business purpose loans and don't allow owner occupancy).

Sure, we can say we have a 98% rent collection rate or that most tenant placements average 27 days etc etc but notice the "most" or "average".

However, much of our document and data collection was handled by loan analyst Taylor Vassey.

Marketing, screening, collecting rent, unpaid rent, maintenance, capex, insurance, lawn care, vacancies, turnover costs, inspections, and so much more. 

Lastly, if the tenant does become delinquent and we have to file a claim with Rhino Insurance to collect their deposit, we're adding to the financial woes of that tenant and putting them into an even worse financial position when they wouldn't have qualified in the first place.Thoughts?

Airbnb collects $ millions in garbage insurance premiums from guests but only rarely pays out anything.

Luckily both sites collect the taxes for our place.Our little town did implement a 1% tax that I have to pay separately.

You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Most S8 tenants have a history of bad decisions, often having convictions, evictions, bankruptcies, chargeoffs, collections, garnishments, etc.