It's a commonly applied local overlay in the 'usual suspects' of States that have restrictive tenant protections, so its unfortunate that you thought you didn't have to accept it...technically you may not have been required to 'accept the voucher', but you have to allow them the opportunity to apply and then allow the housing office to decline the property. 

However, downsides include regulatory restrictions on bank lending, many institutions that restrict concentration and geographies, and other headaches and issues that arise when dealing with a slower-moving bank.DSCR loans are the option that has completely changed the BRRRR lending landscape in the last few years.

Borrowers are not allowed to complete any of the work themselves as sweat equity.Loan to Value Calculations:The original principal amount of the mortgage may not exceed Fannie Mae’s maximum allowable mortgage amount for a conventional first mortgage.Purchase: For a purchase money transaction, the LTV is determined by dividing the loan amount by the lesser of the “as completed” appraised value of the property or the sum of the purchase price of the property and the total rehabilitation costs.Refinance Transactions: For a refinance transaction, the LTV is determined by dividing the original loan amount by the “as completed” appraised value of the property.Eligible Renovation:There are no required improvements or restrictions on the types of repairs allowed.

The suburbs of Syracuse also present many opportunities, with most municipalities having lesser restrictions for rental properties.

Hi All,Question for you pros, and maybe I'm thinking too deeply on this, but does Dodd-Frank (or its attendant regulations) set any restrictions on purchasing mortgage notes, or only on loan origination? 

I may have to drive for dollars and scout out my own deal, but the problem with that is all of the stipulations that come with the STR restrictions.

If you see more restrictive measures being enforced on STRs in that area, then it might not be the best long term option for your portfolio.

I set my restrictions for something like inside of my PMS mainly, but I do know PL has the capability as well, even though I don't personally have that exact setting.

It's in an "unincorporated" county so we have no STR restrictions which was a really nice surprise.

Hi Brianna, one thing to be aware of is properties with HOA's there may be rental restrictions.