Key points include:Security Deposits: In Indiana, there’s no legal cap on security deposits, but you must return the deposit (minus any valid deductions) within 45 days of the tenant vacating the property.Evictions: Follow the formal process carefully.

The appraisal stated one was an office, another was a den and the 3rd was I think called a daylight room. 

Would you be available for a call?

In addition to being a lender, I am an investor as well so if you want to give me a call so we can discuss your numbers, I'd love to help you out!

If we want to do cash out refinancing, custodian of the SDIRA LLc will have to make the call? 

House has been on the market for many months and no takers.

Actually, the way you describe SubTo can be called "equity skimming".

No decision yet, but it's looking good for the investor, as they were able to find about 20 other houses in the area that have been operated as STRs for years with no complaints.

The good subs in your area will likely have plenty of work already and may not even return phone calls.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.