Then mortgages get collateralized and sold to Fannie or Freddie so they can keep lending and make money from the original fees.

Originally posted by @Joe Kim:There are many ways to approach this difficult task of convincing a owner or landlord to rent to you as an investor ONLY to sublease (aka Master lease) the home to furnished short-term rental.#1 NUMBERS GAME:  It's not easy.   

I don't care who teaches this stuff its fraught with danger to think you can take title and keep someone's mortgage in place for years and years stuff happens and when it does the original seller gets HAMMERED.

Paid 77% of the original list price on this new construction home.

The real estate investing industry uses "Classes" to rank property performance risk, but there's NO agreed upon industry model:(Here's what we use for our Metro Detroit market: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?

Then in the next rent cycle 1 tenant moved out and the new replacement paid the old rent sans the $50 discount, and in the second year the other tenant's rent was raised $50, so we were back to the original rent. 

At the very least, I would request a refund of the original application fee as the City made a mistake causing you to have to submit again.  

Originally posted by @Anthony Fontana:For those that do not feel comfortable enough with excel to build out a tool on your own, I would suggest starting by taking excel courses focused on dynamic real estate modeling.

Perform this research by using the rent comp tool on BiggerPockets as well as FB marketplace, Zillow, Craigslist, etc Also for those 15% of units that are “at market”.

Thanks for sharing more details - we do agree that the PMC seems to be lacking in performing their services.