He keeps 1/3 of any amounts he collects, and passes through any expenses he incurs - such as service fees, filing costs, etc.

Hey Raja,Assuming your property is in Portland the tenants would be eligible to receive Mandatory Rental Relocation Assistance (https://www.portland.gov/phb/rental-services/renter-relocati...) if 1) you choose to not extend their lease, or 2) you decide to sell the property and have an accepted offer for purchase.

Has anyone used MG Servicing Incorporated For lending?

While I may be new here, I bring with me a diverse background in business ownership, real estate, web development, and paralegal services.

If you have excellent credit, a track record owning rental properties, Loan Amount is over $150,000, you are the sole owner of the entity, and you have the reserves,  Most DSCR lenders will give you a great experience. 

Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed.

With any long term hold, just make sure you are continually building your reserves.  

Text and phone calls should be reserved for emergency communication that requires an immediate response.

It seems like some of these would be buffered by using a credible loan servicer.

Loan Servicing:  Will you service the loan yourself or use 3rd party servicing?