Try to educate yourself on state laws and tighten up your standards as soon as the situation allows.

In that case the differences between evicting a tenant in a furnished STR with all utilities paid and far greater more variable/seasonable income streams is (IMHO) a far worse situation than a traditional LTR (where you’re at least mitigating some risk via expectations of standard background, credit, and past landlord, etc checks. 

The $50 application fee is fairly standard but the $50 move-in cost and $2900 deposits are odd. 1 months rent is typical for someone with good credit or about $2500 in your scenario.How many bed and bath?

It would have cost me 1.75% each 4 plex in rate, appraisals, and of course standard escrow and titling fees. 

Hi fellow Torontonians,I wanted to share a couple of tenant resources that I learned about recently which you could use or recommend to your tenant other than the standard EI benefits that most people already know about:1.

As you can see from some of the upper ones you can usually get 2-3 standard 12/14 gauge wires in each terminal.

So, yes, lenders are terrified, petrified, horrified at the thought of loaning money to anyone right now.In fact, they are busy raising their in-house lending standards (called "overlays") to ridiculous levels just to try to mitigate the risk of defaults.

@Kesete Thompkins you can also try Standard Bank, Farmers, Amerifirst, Brentwood, FNB.

@Walter May I just went through this and it worked out much better to refinance our current home and then do a HELOC for three reasons. 1) Interest rates for cash out refi's are higher than standard refi. 2) The interest rate for a HELOC is based off of the prime rate which is currently historically low.

I'm by no means a banker, economist, or a conspiracy theorist, but my feeling is this is part of a plan to get us back toward the gold standard and away from the petrol dollar or at least away from the other foreign money.