And as mentioned above, if the lender you are speaking with doesn't know what that is...then you need to go to a different lender.  

For example, two of my goals are to achieve a certain percentage for my IRR (internal rate of return), and a certain % for my cash on cash return. 

Great way to build a business and a rolodex of listings/sellers.

Basically - I want a PM who keeps the property in good shape and occupied to get paid, and a PM who is either bad at maintaining properties and finding good tenants, or just really unlucky, to not get paid.- PM charges 8% of rent, which escalates to 10% if the property exceeds 95% occupancy with rent collection. - PM charges minimal fees.- PM is contractually obligated to perform annual maintenance/inspection to keep property in top shape. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

I don't have any specifics but as someone who is into tech, accounting/finance, and a consultant to grow businesses.

For example we helped a client acquire a $1.5M oceanfront home that is pushing $180-200K per year and a $875k home (with no water feature) generating $125k gross revenue annually

It's that simple.Doesn't hurt to have real hardwood floors and A/C as well.

That makes a real difference.Initially we had one originator, one part-time processor, and a part-time admin assistant. 

And the cracks mostly follow the drywall seams from what I can see, which is typical....And as @Patricia Steiner said, it doesn't look like a pro installation....You could ask the Contr to use a flexible compound if this happens again, or maybe even now...https://www.dap.com/products-projects/product-categories/pat...Like everyone else said, I'd have it repaired - by a licensed Drywall Contr. - and then just check in on it.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.