This was a cost-effective way to meet our requirement of providing just a stove and refrigerator (we don’t include washers or dryers), without breaking the bank further.But here’s the twist: If we were upgrading appliances for a long-term tenant with a stellar payment history, we might invest in brand-new appliances.

Hopefully I get a break from loans transferring to new banks/ servicers for awhile, I'm over it.   

I had two lines of credit one unsecured for 5 million ( check book) and another for 10 million that we would secure them up with .. but you need time to do that bank required appraisal etc before we could tag the secured line and even at that they only lent 72% in these commercial loan structures..

They send over 3 months of notices from the bank. $10,000 has been collected by the lender and is in an “unapplied” status due to the short payments.

Could be different if you are working with a bank that do not sell the loans they make 

If you manage to get this off the ground and do some verified - meaning paperwork is in your name, or company's name, etc - projects that turn a profit, and you build some capital in a bank, you should be able to go right to that lender after a year or two and start a relationship no problem.  

It wasn’t ideal, but it was the only way to keep the deal alive.I made the drive to her small town, met her at a local bank, and had the paperwork notarized.

Pricing in DFW probably means you wont live rent free,and will have to pay your fair share of normal rent, but you also get 3 more people contributing to your loan paydown and you get to keep the appreciation.Buy hey...maybe I'm wrong....go talk to a local bank or credit union near where you live and get a term sheet from them for financing. 

P&L, Bank Statement, DSCR etcVery common for investors to make the switch when they need to or when the cons are no longer greater than the pros compared to conventional loans.  

Hey Daniel, you can use a platform like Avail that will give you all the info you need to know like:-Credit score- criminal record-eviction historyYou will also need to gather their:SSNIDPaystubs and 3 months bank statementsat least 2 past landlord references.If all the above check out, you likely have a great tenant.