@Sam HendricksenMultifamily is super competitive in this area and you have a huge advantage over your "competition" with the fact that you are owner occupying as most deals nowadays hardly cash flow. 

Any HML will want answers to those questions plus a rehab budget before getting you a term sheet for a fix n flip loan for this property.I close these types of loans all the time, if you have any specific questions about the process don't hesitate to reach out.

There is a flaw in the business model and thier internal processes need a lot of work.First the good,Yes, I got paid every month.Nomad found me good renters.Next the badDue to needing to make the guaranteed rent they rented my unit below market valueIn communicating with Nomad they were disorganized, often sending conflicting messages and not alignedNomad offered to find me a repair company, that compnany charged $400 for a $25 dollar part and I was stuck with Nomad saying "not their problem" and the vendor saying Nomad was the client not me.Nomad was horrible to my renters as their property management term ended.

If they are not paying rent then go through the eviction process as normal.

Streamline your communication process to secure quality tenants.Focus on QualityThe condition of your property matters more now than ever.

For instance - I am looking to see if anyone has experience with installing recessed lighting into a horse hair plaster ceiling and if anyone could offer advice on the process I should take when doing so? 

This is a huge mistake as there are other terms and lender administration processes that will have a far greater impact on how much cash is truly needed to execute on any given project and that's the cash amount borrowers should be aware of.How are interest payments handled?

And yes this is a 1 in 1000 situation but plenty of other disasters could happen and having the right insurance policy is huge to protecting down side risk. 

. - Rents are also a function of supply - 2024 saw the most new construction of multifamily units in American history (nearly 575,000 estimated 2024 deliveries of new multifamily inventory), and 2025, while not a record setting year, will see deliveries top 500,000 again - a huge supply increase. 

You have to see huge appreciation to see any gain.