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.

I bought 2 new construction in Athens last summer and rented them right away... so far so good. 

Is it the last rental rate you charged, or is it the going rate in the area + 10%? 

Quote from @Duane Richards: @Sundone Boutvyseth I also did a 10% on STR in Florida last year, it's worked out really well, but went through a national lender.

.: So I have been thinking the last number days about a particular scenario. 

this is a direct relation to lack of inventory.. new construction on many markets is as robust as its ever been.. we have had spectacular years the last 3 years of course during covid was tough with supply chains but my 500k house I am now selling for 700k and my build cost have gone up by maybe 100k.. so record profits for us.. 

What are your thoughts on the market now, post-covid and with rentals/prices at a significantly reduce price from last year?

The last 3 clients I worked with all ended up with Chase.  

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.

The last loan we took out I paid back in 10 months.