😳This is caused by a combination of buyers not being able to afford to buy with interest rates back up above 7%, and seller’s not wanting to budge on their sale price...a standoff.My guess is 2025 will likely be just like 2024 and 2023 if rates stay above 6%....

I guess really you’re not paying it, the owners are.

We are getting a terrible return on our equity but I guess that happens when you are hovering around a 50% global LTV. 

Go check and see what others are charging.I guess I have to ask what does it offer that would make people want to stay there?

I don’t know, if you just want a job I guess arbitrage could work.  

If not, I'm guessing it would be treated as a traditional rental loan, either conventional or DSCR, using market rents rather than the rent in the lease agreement.

My guess is they have low level of book keeping sophistication. 

If they’re late a third time, you have a strong case for eviction for habitual non-payment—without risking the tenant showing up at the 11th hour with the money.For your specific circumstances, with only a partial month behind, I would guess there is a decent chance they can come even on rent and it would be a waste of your time.

Assuming you have an architect, my guess is that they will lean towards using the AIA docs.

Early on in my career, I saw a close frend do something similar.. she borrowed from her circle to finance a rural fixer-upper, then paid them back once she refinanced after the rehab.I’m guessing that massive yard plus the barn is already a big selling point for your tenant, especially with a family that wants a little extra room for animals.