They handle his 150ish doors, and he has high standards.

You all went CHEAP and have hopefully learned a lesson:)Area where I was vetting them the prices were standard 10% monthly rent with $75 min and 50% first month rent.  

The VA is a meticulous about the condition of the property as well, so make sure it meets livability standards. 

Also, have you made any significant alterations to the property or if it were put on the market today, would it be indistinguishable from a standard 4-bedoom house (are there any extra walls for the SRO, constructed locks/barriers etc.)If its a standard SFR and the leases are very short term - there is a path that you could refinance this with a DSCR as basically a Short Term Rental and then potentially change strategic course back to SRO if needed at a later date

When you engage with a new vendor, have it be a standard procedure that this worksheet or packet be filled out with documents provided before you will engage their services.

Originally posted by @George Despotopoulos:Short term is usually referred to as hard money or bridge loans. 3-6 months is pretty short, standard is 12 months.

Just trying to wrap my head around the differences of if we got a standard mortgage up front vs. private equity and then paying that off by getting a conventional mortgage after seasoning. 

I wanted to avoid shady characters and losses while trying to build a rental portfolio that was rehabbed to a good standard and didn't have much maintenance issues.4.

Standard PPL (Pay Per Lead) companies will sell them between $150 - $750 a pop.2.

Secondly a 7% rate with 1-2 points depending on LTV, FICO, DSCR, and prepayment penalty does sound fair/market standard.