Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

The IRR will be around 19-20% with a 3X equity multiple and 14% CoC.

Common Reasons to Terminate a Contract by General ContractorNon-payment: If the owner fails to pay multiple milestone payments, then the general contractor can terminate the contract after giving notice.

•If you can, raise rents or find ways to increase the property’s income before applying again.Have you already tried talking to multiple banks, or is this feedback from just one?

There isn't 1 first person, there are multiple that you should be contacting.

But after an exchange - sign the purchase documents with one pen and pick up another pen to sign the refi docs :)Another strategy you could consider is reinvesting into multiple properties, where you purchase the first property cash (ensures some security and concentrates the equity) and the second property with a mortgage.

Property was sitting on market and needed light updates (roof, flooring, paint) but was in a great area that allows STRs giving me multiple options when deciding on rental strategy How did you find this deal and how did you negotiate it?

And if you really want to diversify, invest into multiple replacement properties with the proceeds.

Negotiated price down 10K even with a multiple offer.

I’ve heard lots of professional investors bash LoopNet but I’ve had multiple home runs from deals I picked up there.