Much of it has to do with their original wheelhouse and comfort factor. 

Broker fees are also in the 10-20% range not $500 which makes a little bit of a difference.I do it all out here as an agent, lender, and investor so I see every angle.

One of the biggest factors at play right now is data transparency among lenders, we can see a lot of the industry-wide trends.

Sapphire is much more of a vacation home community.The deciding factor for me was that Sapphire and Cashiers don't have a lot to do, except for golf and hiking.

I’ve spoken with a few agents who estimate it could generate anywhere from $150,000 to $300,000 in revenue, which is a big range.

That should really be the deciding factor...is it necessary and a large enough project to include the permit process?

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

In areas like Dallas or Fort Worth, I’ve seen professional cleaning range from $300–$600, especially when dealing with pet-related cleaning like removing cat hair from carpets.

Most that I sat through are in the 5k range.

.: What would be the price ranges of Class A, B and C properties in your markets ….If you don’t mind sharing, what are the definitions of Class A, B, etc?