I've bought over 700 SFR/Small-Multi properties for less than 70% ARV over the last 35 years, across up, down, and sideways market cycles--including 11 of them in the last 3 years even though that isn't my primary strategy anymore. 

- Broker may be trying to protect themself, so don't believe what they claim without proof.

My strategy has always been to buy in the right market cycle, renovate for value-add, rent, and refinance to release equity.

This market cycle we now entered is one I call "Feeling The Pain".

Because I know what I’m doing and talk to people with knowledge and proof of what I done.

And get a sewer line scope - if the house is newer and you have proof that it has PVC pipes, you might be able to skip this but to be cautious always get a  scope.

RUBs are not based on consumption, therefor tenants/residents lack positive reinforcement (lower overall rental expense) to conserve water or even report a cycling toilet. 

You’re going to have to provide proof of all of your finances.

Once you start an application cycle, keep your criteria the same through that same cycle. 

This typically looks like 2 weeks of work before sending our first invoice with proof of work that was completed.