Hi Everyone, I just returned from an event in regards to "Smart Networking".

I have read many interesting articles and responses by some real smart people.

I find people smart enough to even do the research for vacation rentals are not the same types looking to stay a cheap motels so they do take care of your stuff.

I see where your at J Scott and the way you do it is smart.

Hey BP,

I currently live in the south suburbs of Chicago near Crete, IL and own a SFR in Steger, IL on the Will County side. My taxes are not horrible approximately $3,500 a year on a 1100 sq ft 3 bed two bath.

I u...

(using Trans Union My Smart Move and an application)Thanks

But the exemption requirements are re-stated in a few places in DF's text and I believe the LMLO is actually not "required" but in my view a smart service to use as well as sticking to 43% DTI or close to it.I know I deviated off this tread's focus of "servicing requirements", which sane lenders will now use one of the national servicers or should have been using a servicer all along.

For example, if you project utility expenses at $3,000 per month, but the actual utility costs are $2,500, your projections will appear better than if you had plugged in the $3,000 amount.Using a conservative approach when projecting vacancy rates on your pro forma is also a smart way to go.

A 10% reduction from the 207k price. 2008 saw about a 20% reduction so we'll assume the smart folks are correct and we'll only have a normal downturn.

Banks are smart and they know people won't stay in the loan for the full term.