FSBO routinely do worse.

PML and the other lending sources typically have different programs they offer that are less strict on underwriting but that additional risk comes at a cost of usually lower LTV, higher rate, higher points, and shorter duration (think 9-18 month loans instead of 30 year loans).  

There are strict monitoring requirements to ensure that every gallon that goes into the tanks is either remaining in the tanks or has been pumped out. 

However, houses are frequently, almost routinely, removed from the sale process when the borrower makes a catch up payment or two or when the bank perceives some risk to a sale meaning that the property may leave a deficiency.

Be polite and respectful, but also professional and strict.

.- Im thinking of not charging security deposit because of all the strict MA laws and just using the last months rent as a sort of security deposit, thoughts?

Operating expenses are routine and necessary costs to keep the property in its ordinary operating condition, and they are typically deductible in the year they are incurred.You also mentioned the benefits of classifying something as an operating expense versus a capital expenditure.

They also have strict rules for renters about sharing the kitchen, cleaning, etc. with monetary penalties for not complying. 

Investment Info:

Single-family residence wholesale investment.

Purchase price: $100,000

Sale price: $112,000

One more wholesale deal in the books. This one was special because it was completed with a...

If you are thinking of doing it in Los Angeles, it is likely a pass.The City of Los Angeles has put in strict rules on what kind of properties can be used for STR and for how many days.