@Mark Torrefiel check with local Realtors to find a photographer. 

The multifamily real estate market is gaining momentum as we close out 2024, driven by easing financial conditions and attractive cap rates, according to Marcus & Millichap's Q3 report.Cap rates have surged to an average of 5.8% between July 2023 and June 2024, marking a 110-basis-point increase from 2022's low and the highest level since 2014.

The table stakes are way too high right now for properties that most new STR owners are either overspending to keep up or missing the mark altogether.

In most communities median marks the line between B and C neighborhoods.

When it is a new development, it isn't uncommon to see someone use the date the Certificate of Occupancy was issued - perhaps that marks the "ready", but it still might not be "available".So you can certainly have a property in service in a given year, but not actually have any rental income - but certainly your facts and circumstances are much better if you can actually get a tenant in there, that (should) shore up your defense on that question ever coming up unless you are playing weird games just to get a given in service date for tax purposes.

But I find the pressure to do so at about the five year mark helpful.

My current situation - I have a FICO of ~630 (no late payments or derogatory marks, just credit card debt from school). 

@Renee Potoczny @Anthony Wick @George Pauley Update:  I requested that she furnish proof from her bank showing that the funds were available and remained sufficient through the processing period. 

Mark

Mark