DSCR Loans are typically great for STR purchases - however, DSCR Lenders are going to require at least some "skin in the game" - so won't be able to have a 2nd lien for the down payment. 

I'm itemizing as required but it's hard to know how much is fair to charge for things when we do a lot of the work ourselves.

Be thankful they are taking this step on their own to ensure they don't get behind and stick you with unpaid rent.I'm sure how much they may be approved for varies on a case-by-case basis, but I have tenants who have paid the full rent for multiple months through COVID rental assistance.Your role is limited, and in my personal experience requires just a bit of information on the balance due and a signature.

  - Any budget overruns could exceed the amount of capital a small PML may have and require the project to be refinanced into a new construction loan elsewhere while the project is inflight and this could pose challenges if the borrower doesn't have much skin in the game or liquidity. 

You are required to give their request consideration but only once they submit it with the doctor's note etc.

So it needs to be balanced out and not by the same person.

Recently, many of those seller carried mortgages are coming due and clients have reached out for either advice or recommendations for their refinance so I wanted to share a public synopsis of what's generally required by lenders and what to be prepared for.

@Yanting Wang many investors are buying, "build to rent" properties.They are all being told that in buying a new construction property, they shouldn't have maintenance issues for 5-10 years, which will increase their cashflow/profit.Well, tenants have a way of breaking things, not taking care of problems and letting them become maintenance issues, and this is on top of the fact that most new construction properties require several warranty repairs by the builder in the first 12 months.As others have pointed out, you must live in the property for the first 12 months for an FHA mortgage or take your chances with committing mortgage fraud.

I'd do higher density infill and go as vertical as possible. close on the cash land and then entitle it and seek partners. that's how we structure every deal. without land you have nothing. without a balance sheet you have nothing. if you don't have those then find someone who can bring all of that and bring the boots on the ground and the experience. 

What is the process that requires me to be licensed with FINRA.