The plan is to purchase short term using Jet, do a little cosmetic work (they are in pretty solid shape), and refi based on rental history (all 4 2/1s currently occupied). 

But pretty much every HML will require PG's as well.. but if they have a mechanism to get the property back without a foreclosure then maybe they don't need it.. and frankly with the no money down borrower with limited capital the PG is kind of worthless anyway.. again just spit balling here.. but in mortgage states like OHIO were foreclosures take a long time.. 

I am pretty anti carpet unless it is bedrooms or stairs and even then I am hesitant.

I would think if the owner has had the property for 25+ years, he could be pretty far into his mortgage if not had it entirely paid off.

Money is "earned" when it is applied to the charges.I don't know the law in every state but I network with thousands of property managers around the country and this is pretty common practice and backed by the courts.As for pot, you have every right to ban smoking inside the unit.

I suspect that's gross rent.. then take out expenses.. this is still semi possible in rougher areas.. where the market is pricing for risk of tenant.. the question is how consistent is that renter in those assets.. it can happen though.. but pretty far and few between in the big MSA areas.. 

Pretty much once you provide the HO with that information they realize they can do it themselves.

In defense of the prior painter, the University of Florida's colors are....Needs paint, but looks pretty good. 

Outside the home looked pretty decent.

Even so, it's a pittance compared to what many on here do, but it's pretty encouraging for us.We purchased it for $63,500.