I know as the Lender, I always have the option to modify things but the NoD helps set the stage if the borrower doesn't act or respond in a way I feel is beneficial to getting the project across the finish line and me my capital back.     

Not sure where your STR is located, but you might want to look into local STR management companies that also offer staging services.

We financed this deal using a conventional loan, and taking portions of my 401K out to make the down payment and stage the house for STR and MTR.

.: @Clinton BoltonI'm a beginning investor (3 properties) and reached that analysis paralysis stage of where should I buy and what (turnkey or a property that needs work). 

When you're first starting, I recommend running analysis on at least 100 deals.

The investors would be advised to pool together some capital to retain the services of an experienced securities law firm to do an analysis of whether they have cause for complain, cause for lawsuit, and reasonable chance of collection.  

I think a bigger reset is coming in the coming 3-6 months, so i would be extra picky in my deal analysis.

Financial Analysis of property with risk assessmentIs the financing short term or long term?

In my experience, cash flow is key, especially for long-term holds, so running a detailed DSCR (Debt Service Coverage Ratio) analysis might be a good step here.On the flip side, if you're eyeing faster returns, a flip might be more lucrative.

Saugatuck city has just instituted a cap on STR yet it is in the infancy stage.