Bank will use cross collateralization from other property for no downpayment.Using a cap rate of 8% since this will be primarily cargo containers.  

., more than half of the calendar year) for the Borrower’s personal use and enjoyment"This means that you can only book it out on STR platforms for half of the year (50% max occupancy), which really sets a cap on your max income. 

. :) @jay hinrichs - I like Marco's podcast - he clearly knows his stuff.But he does list a caps rate on SFRs, and worse, that cap rate does not include the 5% vacancy  and 5% repairs projections included in his detailed analysis, which turns his 9 cap into a 6.5 on his listing for Fairburn Place, ATL. 

Other states there may not be a cap, which makes it harder to control expenses.3.

It is really hard to guesstimate a cap.

One would be nuts to value this on a CAP basis.

Quote from @Adam Michael Andrews: The whole point of investing in a note is that in a downside case you have some sort of surviving claim in BK even if it suffers a haircut or is equitized at that point.The fact that you are prematurely converted to equity in a default situation means you have the equity risk via that clause but have a capped upside if things go really well.

I have been considering investing with Morris Invest as well and have followed your updates but there was a cap in my reading from Dec. 2016 until 3 days ago. 

Over a year $200 on a $35-40K gross is nothing, yet over and over LLs want to "set a cap" vs screening for good guests/tenants instead. 

Quote from @Clayton Plummer: @Rob JoonIn your previous comment you said that Saugatuck city has a STR cap, but it was in its infancy.The township does not have a cap though?