Or you can go a DSCR route (sometimes with no seasoning) but the terms suck.

I attended the RALA 3-day training in Phoenix and took a couple of online courses as well, and while I found these courses to be very valuable in helping get a clearer understanding of the space and what it might take to be successful, I eventually I found it most beneficial to bring in a partner/advisor who has built residential assisted living facilities here in Texas and has been running them successfully.

Larger properties offer economies of scale and better financing terms, but they also come with more complexities and higher upfront costs.

If that's the case, you'll want to start with a fix and flip (or hold) type of loan, complete your renovations, get it rented out and THEN refinance into a DSCR loan for a long term hold. 

As a Ny'er We chose to invest completely OOS as Ny landlord tenant laws are not the best if you are considering holding long term. 

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

For example: We provide tax preparation and advisory services to people who invest in commercial (including multifamily) real estate, and high w2 earners investing in short-term rentals.

Our current focus is for a family lakehouse / lifestyle play here in TN but would like to work my way into commercial properties, short-term rental facilities, business acquisitions to name a few.

In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

I also require additional security deposit and sometimes a guarantor if they were approved in this manner.I also agree that this situation sounds like a pattern not a one-time mistake or short term tough situation that caused this.