But process takes a little long before you get your first payment (about 3 weeks for me).

This type of financing will typically look very different and more like a traditional commercial real estate loan.That means a DSCR calculated based on a full NOI and expense load (so inclusive of vacancy loss estimates, credit loss estimates, repairs and maintenance, utilities, management fees and more – in addition to the property taxes and insurance expense that are the only expenses factored in on traditional residential style DSCR loan financing).Additionally, the DSCR minimums are generally going to be higher (typically up to 1.25x), the loan to value ratios lower (higher down payments) and underwrite more sophisticated (which makes sense considering the size and scope of the property).Many multifamily investors for properties of this size (such as more than 11 units) can syndicate capital and have more sophisticated financial and entity structures – its definitely a different world once you get up here in unit count.In Conclusion – when you are looking to invest in multifamily real estate and finance your investment – make sure you have the unit count in mind before you start shopping – the unit range can have a huge effect on your options.

If not, you would need to structure a creative deal by purchasing subject to the existing mortgage.And if taking over the mortgage is not worthwhile due to the condition of the property, your last option would be a short sale.Before structuring a creative deal, make sure you are guided by someone who has done it before.

I find it commendable that members of the BP community showcase their properties, highlighting the staging process and curb appeal enhancements made, 

But not being there, it's hard to tell.....maybe there's some structural damage causing this that's jacking up the price?

Pretty easy process if you know what they need and you can provide it.

I'm glad I went through the process through.

Spread out capital gains over a few yearsMake more money on interest paymentsContinue to cash flowI am not sure about trying to structure with someone defaulting in mind.. that seems like bad karma.

I have a team of trusted professionals ready to assist you wherever you may be.I'm incredibly passionate about helping individuals like yourselves embark on their investment journey, and I'm dedicated to making the process as seamless and rewarding as possible.

This was done BEFORE the city had a process to permit STRs.