Most people doing creative finance downplay this explosive issue.

>The likely rent I'd get in this area will cover half my mortgage payments at the momentI have done all of my brrrr in different market and I have the same issue that after a refi to extract the value add, my high LTV property at current rates is large cash flow negative (not as large as only covering 50% of the mortgage).  

@Aaron Raffaelli, I’m sorry to hear that you are having issues qualifying.

If I had to speculate, I would say they are facing some serious liquidity issues.

Spoiler alert- Phx is quite a saturated STR area, and many STR's (although some are doing great) are having major occupancy issues. 

The snow companies that are good can be really pricey and we have had issues with some of the smaller guys in past.

Unless you negotiate a new contract or addendum with your PMC, they do NOT have to abide by any requests/demands you make that contradict what's written in the management contract.If they have in fact NOT followed the terms of their contract, then you'll want to send them something in writing pointing out the specific language in their contract that they violated and ask what they plan to do about it.If they fail to correct or address the issues, then you'll want to start looking for a new PMC.

Hiring someone to do the work will likely cost too much (I would charge a small fortune, it's an incredible amount of work) and doing things as cheaply as possible will bite you in the *** later when you start having issues with your own shoddy work and/or materials.

I'm looking at small multifamiles and won't have an issue with capital thankfully.I am in Arkansas and looking to stay local-ish initially.

The issue is the down payment is over $250k and no one has that or is willing to fork over that amount.