Quote from @Alecia Loveless: @Jonathan Bombaci I think a good lawyer that has passed the bar to practice in two states is going to be more expensive than $200,000.

Looking at this mathematically, if you assume a 50% non-renewal rate (industry standard) and use the low end of the range of $5,000 per non-renewal, there is a loss of $50,000 per year on a 20 unit property.

Reason why is because FDIC Bankers "Do Not" charge points on traditional programs like primary homes, standard investment purchase and refinance, Second home/vacation homes.Lenders, Brokers all charge points to meet their Loan officer compensation plan (commission).

The theory is spot on, in practice however that logic rarely plays out - at least in recent years where multifamily has been crazy.

These are non-standard setups.

The rules and payment standards vary significantly from one area to another, so familiarizing yourself with the local housing authority's procedures is key.

There's no need to change business practices because of what these guys have done.

@Tove Fox hope you find this copy & paste useful:)-------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

The standard legal procedure, as far as I understand in NC is the landlord must make reasonable effort to re-rent the property (which I will), and any vacant time till new tenants are found must be paid by previous tenants.