.: Maybe someone can educate me on the actual uses and mechanics of using a substitution of collateral clause (aka substitution of security) in a loan when you are the borrower.

I'd like to purchase an STR (I probably should have said that), being that I live in South Florida, Orlando isn't too far, but also not close enough that I can drop by anytime, so I thought I'd need a PM, or perhaps just a great team in place as far as a mechanic and cleaner, realtor and lender.Thanks again!  

Agency CMBS Market Mechanics (How It All Works): How does the agency CMBS market work?

Mechanicals, roofs etc. can be towards the end of their useful life and pass inspection but then the cap ex can't be absorbed in many of these C/D neighborhoods.

Full gut renovation, including but not limited to full replumb, full rewire, complete mechanical upgrades, and new apartment finishes from studs.

If millenial homeowners can't even change their home's air filters, or snake a toilet, or change the oil in their car, that's guaranteed future business for HVAC companies, plumbers, mechanics, and those places all need a place to conduct business in.The commercial mortgage pricing software I use has somewhere around 50 different asset classes in it.

In tip top shape both in the mechanical systems, design, and upkeep2.

Most likely all new mechanicals, windows, a fair amount of framing, insulation, etc., etc.

A good PM will be able to quickly draw upon process, procedure and mechanisms in place to handle the "X" in your question. 

- We have 5 to choose from, depending on the property and feedback.On another note, what is your PMC doing to secure the property against squatters and theft of mechanicals?