I doubt any respectable lender will consider a property without electricity and missing breakers as "working" as the property is not habitable in this condition.

Ultimately, clear communication and expectations handled in a respectful manner can avert any issue.

Look, this MTR of 30 days+ is completely arbitrary.  30 days stay is much closer in respect to tenant types to STR.  

However, in private financing it is customary for the borrower to foot those costs.You can find each institution's registered account and arm's-length mortgage guidelines, and fees on their respective websites.

Quote from @Daniel Samandarov: With all due respect you are a novice real estate investor that is upset and frustrated with the standard UW process and wants to blame us for your inability to provide docs and requested items correctly.

Many investors are willing to share their experiences, especially if you come from a place of curiosity and respect for their time.

@Tom Dieringer After purchasing my first property in 2024, I acquired most of my short-term rental (STR) knowledge from The Short Term Shop, which included maintaining respectful communication with guests, keeping calendar availability up-to-date, and ensuring high-quality listings.When I initially began May of 2024, I opted to list my property exclusively on a single Online Travel Agency (OTA) - Vrbo.

Michelle Wang,With all due respect, you should make plans to be in another business once you're out of Real Estate Investing (Residential, Income Property).There are Members of our MassRealEstate dot net Association that come crying to me about similar situations as yours i.e.

Send a written notice (yes, paper) to the tenants with proof of delivery required (the postal carriers have this time to an art form; it's inexpensive and you get confirmation via email or receipt very quickly; it does not require the tenant to sign - it just confirms that the notice was delivered.A paying, respectful tenant is golden.

We both knew we were aligned in our goals and had a clear understanding of our respective roles in the deal from the outset.If seller financing is part of the equation, look for someone who’s not only experienced with creative financing but also understands how to manage the potential risks involved.