Using an unexpected repair as justification for not caring about cashflow as much as appreciation doesn't really address the issue, especially when appreciation also operates on the idea that the property's condition doesn't decline relative to comps.From what I understand about REI and cashflow, cashflow should cover not only PITI, but maintenance, repair reserves, prop management, etc.

Zoning issues?

I have been to the US Court of Appeals though, litigating some of these issues and won.

We don't have any issue getting it booked up for the season.

Hey @Ricardo Polanco, so I guess I am not understanding the issue.

Our rep at Lendbase never called to apologize or ask if a prepayment penalty was an issue for us.

If you do most things right, most issues are mitigated and it's not too bad, but there's no guarantees.

@Ryan BroschardHi Ryan,You have hit a common issue many new investors fail to anticipate.  

It wasn’t an issue of “underwriting does review a file until it was complete”.

The issue I see is that market has historical appreciation below average (not bad, but slightly poor).