It's not like you have to have a special savings account titled "mortgage purposes reserves" that you can't use for anything else.

I think you need a better system for screening applicants and then holding them accountable when things get off track.2.

It's pointless→ I want to evaluate how the property is performing NOW→ Where it COULD BE performing→ And WHAT it will take to get there.This involves (at a minimum) checking comps, creating a 5 year proforma, verifying taxes & insurance, and making assumptions about the business plan.You can't determine if a deal is a pass/go simply from NOI / Cap Rate.The art of underwriting involves finding value where others miss.If you're passing on deals just from dividing the in-place NOI by a cap rate, send those over here!

I just hope it stays the course so we don't need to get attorneys involved.   

I encourage you to get involved, ask questions, be open to feedback, and allow other seasoned investors to help guide you along your journey of Real Estate Investing.Best of Luck!

Our monthly surplus income, after accounting for all expenses, amounts to $3,800, providing a solid foundation for potential mortgage payments or land-related expenses.While I am confident in the value of the land to my operations and its long-term potential, I recognize the importance of careful financial planning and strategic decision-making.

In my personal experience I was inexperienced and my company a brokerage (which are affiliated with many banks) held my hand through my learning process, paid me a base salary, gave me leads which I split my commission, guided me on how to attain relationships with realtors and how to generate leads,  they have many accounts with real estate brokerages where they are the exclusive lender which was a plus.

With a "facts and circumstances" test This article can. help: https://www.irs.gov/publications/p523#:~:text=If%20you%20own%20and%20live,factors%20are%20relevant%20as%20well.Please discuss this with your accountant, as your facts and circumstances will matter greatly here! 

Have a chat with your accountant about it and make a plan! 

However remember to get another account opened before being removed, as this will create a 0 score again if there are no accounts.