The tenants currently rent for $950 which was their stagnant rate the last few years.

PMs should have the widest network of contractors, knowing the good from the bad, better pricing, insights into rental rates/ condition of rentals to not over develop your unit.

You need to review your lease. tenant may be responsible for interior, but common areas and building facade should be LL.what is the current rate?

@Jay Fayz for SFR (1-4 family) Classifications are mostly opinion-based.Not aware of anyone tracking eviction rates, except Evictions Lab nonprofit that doesn't like landlords.Here's some info that might helpt:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

There are short-term rental management companies that can help with that.One that I work with in Michigan covers the entire state and can advise on local short-term rental regulations or regulations that may be on the way, they can give you an analysis of the demand for short-term rentals in that area, nightly rates in that area, monthly occupancy percentage, and projected monthly income.They also let you choose the level of service you would like from them from full service to minimal.To your success!

THe lender is a credit union and it is a conventional low rate loan.

My first mortgage was almost 11% and that was a good rate.

@Iris Olivas Most local banks/credit unions can do this deal with lower fees and potentially rates than brokers.

I've had smooth loans close with Kiavi and I've had rough ones, same with Roc.When Loans start to be troublesome:1) The borrowing entity docs are a mess2) The appraisal numbers are lower than expected3) Messy background reports4) Loans happening in an environment where market/rate fluctuating unpredictably 5) Your loan officer and their team are poor at their job6) Title issues that depend on county docs, that can be slow and painfulThere's more but it's Friday and I'm tired....

Even at a high cap rate you've got several million dollars of market value here, so I'm curious about your base numbers.