You have set your standards.

They’re not a standard DSCR collateral choice.

Now this Jan 1st another slew that pressed the bar of standards and requirements even higher. 

I know property managers in every state who use non-refundable application fees and it is the standard for every class of property and applicant.

In the meantime, I would like to gain experience through employment with an existing real estate or property management company.Is there anyone out there that can provide me with some good advice/guidance as to the best and most practical route to achieve that goal?

Best Practices for Finding a PartnerWhat are the most effective ways to find a solid investment partner?

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

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.

However, I’m unsure of the actual process of paying myself as a business owner.Here are some questions I’m hoping to get clarity on:How do you legally and practically pay yourself from your Airbnb income?

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.