To be clear sole owner and sole member are typically the same thing.

Therefore working with and renovating SROs are typically deeply complex project and a great extent of due diligence is needed before purchasing.

No tenants - No turnover, evictions or chasing rent.No liability - No worries if a homeowner slips and falls.Secured - the investment is secured by real estate.Insured - unlike a stock, the collateral (property) is insured.No taxes and Insurance - Homeowner pays and TI is typically escrowed with the servicing company so no need to track.Notes are typically more liquid than rental real estate.Consistently higher returns - Typically double digit.Scalable - easier to manage several hundred notes versus several hundred rental properties.No HOA or COA - homeowners must pay directly.No property management costs - instead we pay a fraction to a servicing company to collect payments.

These are typically one-offs and depository institutions are in the best position to offer them.

@Jerry TilleyAsset based is going to be a different Non-QM program than a DSCR and typically higher rates than a DSCR.However, mid-7s on DSCR is high in the current environment and given the info you've provided. 

In homes built after 1990 in my market, there is typically something called a Private Water and Sewer Charge.

I've noticed several posts recently in the format of "here's the problem/situation, and what do you think about it" which is a typical college course discussion question format (so most likely chat gpt-generated or something similar).

The challenge you typically run into with investment loans is lenders will require 20-25% down payment.

For example, A-class areas might become oversaturated with rentals or experience events that reclassify them as B or even C-class, while areas previously considered as C can rise to B or A status through new investments and revitalizations.Thus, the choice between prioritizing equity or cash flow isn't always clear-cut.For novice investors, I typically recommend starting with A/B areas due to their relative stability and lower risk, which makes them safer but often with less upside potential.

Typically where the builder goes into a smaller town or area build a small phase and then moves out to another county or town leaving not many new builds in that area to offer new future construction home sales.