The next emergency will likely be on a holiday when your tenant is throwing a party and the bathrooms experience heavy use.

For myself, I've only worked for one mortgage company, so I only know what *we* do behind the scenes, not what anyone else necessarily does.So I'm going to throw this out there as a question to others: Am I reading/interpreting correctly that it is UNUSUAL that we (at most, and sometimes) just make you take a little 20 minute online landlord course and boom we can use rental income with no landlord experience?

As to what that content is, you need to think about your target audience. 

I have seen some that will match a CMBS loan 25% down but they want the buyer to hold additional millions in their wealth management department for products that throw off 3 to 4% annually.

One thing you have to realize , people will put down throw rugs , furniture , etc.

Needless to say, that a deal that looks fine at 10% EV, looks very slim at 15% EV and barely breaks even if expenses or exit cap rate is increased.The last 3 years were within 10% threshold though and that trend may continue.Hence my question: is 10% a "new norm" or should I throw it out and use at least 13% in my underwriting?

You can always get a bump next year and throw in that you didn't increase their rent last year.

At least in the current market climate. 5 years ago you could probably throw a dart at the MLS and find a BRRRR deal, but those days are past.

Just wondering for those who care to share  that are investing in Riverside and San Diego California what lead list are you targeting that's bringing you the most return ? I'm currently focusing on Probate and Tax def...

He won’t give ballpark because “I don’t want to cut my own throat, but throw me an offer... trust me you’ll be surprised.”And finished our conversation with “and I’m seriously not bullsh***ing you, make me an offer you’re gonna be amazed”I don’t know what to offer, this would be my first wholesale deal.