One major lesson learned is that commercial financing is no where close to residential financing and that you need to give yourself a decent amount of time to line things up.

Either way parking and laundry are major amenities and I would highlight that. 

There are also some exceptions to convince the underwriters to use leases if there were major repairs for that house/unit proving that the schedule E numbers are not showing the full potential return, then you would be able to use the leases as an exception. 

I'm not sure what the Inglewood market is like, but if it's anything like major cities in CA, I would anticipate that you can still get it rented out as an LTR.I would also look into the Midterm rental market in Inglewood.

 :)To anyone reading this: if you happen to think using other people's money means you don't need any of your own, raising outside money may help you recover your expenses, but you still have MAJOR out of pocket expenses, typically, due before you can raise any money:Earnest deposit: most people raise after you get control of a deal.  

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The vast majority of my tenants (particularly the ones I placed and did not inherit) have been great.

Hi @Dave Harlan      I've done roughly 120 loans with them over the last 14 months on the broker side and have worked with just about every major lender in the space too.

When the investors decide that is what they are going to do, then the minority's option is to either buy out the majority, or accept the will of the majority. 

Some will require to use the lowest credit score while others will just require the majority owner or use the highest if all equal.