The sellers were under agreement with another buyer who pulled out when Helene came through (even though the restaurant suffered no damage), so they are looking to close quickly (end of year) and retire.

Quote from @Veronica Morss: I just finished rehab on my first Cleveland property and we're waiting on the lead certificate to come back which I'm told 30-60 days.

@Alaas Amour if the seller is dumping this property - find out why!

Based on a value of $165k, 75% LTV would make your new loan amount $123,750.

I just gave him some easy round numbers on the deal, and he said it looks great.

We've seen our area MLS which covers about 20 counties come down to an average sold to list price ratio of 95.1% and Knox county specifically has come to 96.4 % which is lower by about 2% from this time last year and down from our peak this year of 98.5%. but it's about in line from winter 2022 into spring 2023 which was a time when rates were rapidly rising.

I have done a couple of podcast episodes on DSCR loans.  

@Candy Kimbro Congrats on your STR property, nice cash flow for sure.

Outside that, contact a broker that deals in surplus lines.

Do not rely on it for legal advice.