I've been an independent contractor in Springfield, Illinois for 8 months and have been a trades contractor for the last 4 years.

Someone out there must study those submarkets pretty heavily and can explain how housing stock has changed or not changed month over month the last few months... 

I shopped all of my state's CU last time so I only called the top few this time around, it does seem like the best way to go about things.

Verifying last 2 years of rental history very important!

The last 12-18 months have been a little rocky in the DSCR space for 5+ units.

Verifying last 2 years of rental history very important!

Chain lasts the longest, but it seems to encourage kids to climb over.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Quote from @Dan Liston: Last week I finished foreclosing on four properties. 

My last transaction is up ~$1M above costs.