They're the ones working with those agencies on a regular basis and have the best referrals.As far as recovering the debt, try leveling with the tenant as much as possible so they grasp the seriousness of being sent to collections.

In NYC trying to compare like properties and eliminating co - op debt, co-ops will sell for 60% to 200% of a comparable condo.  

The technicals (migration rates, job growth, tax situation, debt cost, etc) to work as well.

If your debt to income ratio is good, you can control a $700-800k asset with $50k.

(income = 3 x monthly rent, Debt-To-Income, etc. can still be used!)

This makes targeting distressed sellers, such as those in pre-foreclosure, or those with ballooning debt that was taken out in 2020-2021 when the interest rate was 7.37x lower (8/09/2020 the 10-year treasury was .56%, 1/15/2024 the 10-year treasury is 4.69%) making it very difficult for those that underwrote the property in 2020 to have predicted refinancing at these rates and likely a sale is their only option.

@Keith Groshans, consider a real estate debt fund and reinvest the monthly dividends.

Quote from @Joshua Piche: Im looking to move out this year and house hack my first property I’m 24 debt free still living with my parents .

Two main reasons being: (1) debt does not increase your basis in an S Corp, which means your losses get limited.

The banks thought I was a dead beat because of my debt to income ratio.