I am under the impression it is very difficult to get lenders to finance new builds especially spec builds.

It is much harder to find a 2nd lien lender on an investment property and, even if you do, they are going to have maximums on the collective loan to value between both liens.

Perhaps in return they collect an acquisition fee,  collect a construction management fee & share in a portion of the upside.

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

It will be info i need moving forward with my collections people for him.

I have 2 sets of tenants that I have had considerable problems with collecting the rent over the past year.

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.

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.

I should note that that I was using Baselane's banking service to collect deposit and rent, and had moved the funds immediately to my private bank after I collected (thank god!).

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