You'll also need to show stable income for the past two years through W-2s or tax returns.Talk to 3-5 lenders to compare their rates, fees, and terms.

I thought I bring this issue about Peter Harris back up .I was also told about the $10k start up fee .

A genuine question here for you, who are you working with right now and how much are they charging you in fee?

The fees and rate are generally higher on DSCR loans. 

-Ray (see above) is the man and can get you hooked up with great rates and low-fees!

As I understand, landlords there cannot charge application fees, security deposits and evictions are VERY challenging.Have communicated with several PMCs and investors in Ohio market and not aware of any real differences from Michigan. 

I'll save you the details but...Per door cost: $63,300All in Cost: 700kTotal Revenue: 137k(ish) annuallyNOI: 65-73% (in the expenses we included: insurance, taxes, $75/month per door repair expense, management fee 8%, grass cutting, & a misc fund for random crap business license, etc.)Now...

I just go in at the first of every month and code each line item to the corresponding property and note what the expense was for (Repair, HOA Fee, Mortgage payment, etc).

I get the feeling Quest is resigning because there is not enough fee income to be made from me, so I'm being dumped.

It happened to coincide with Hurrican Harvey and we flooded during the rehab. 212 extended the HM loan without any extra fees for 4 months until December 31 2017.