You could try 650 and see if you end up rejecting people you would like to accept.I understand the argument for flexibility and taking the "whole picture" into account, and it's tough to make "one size fits all" rules.However I'm also a big fan of applying the same standards to everyone, that way it can never be alleged that discrimination was happening (and, if you apply the same standards to everyone, it shouldn't).Some landlords try to combine the best of both worlds by using a scoring or "point system" and giving different factors various "weights" (how important they are, relative to each other).

I am not in a business of losing money because someone is trying to throw their weight around and scare me.

My guess is you don't have insurance that will protect you in that situation, where a licensed professional would have the strong weight of their insurance and their brokerage behind them to apply leverage and pressure. 

If you want to invest in a small town business (like a STR portfolio) it will pay to be connected or part of the bodies that oversee licensing of your business (self-interest). 

No body is perfect but after working for the other two they could be close.   

They will be able to tell you the likelihood of the exception being approved, timing & cost from application to approval, how the approval body would respond, etc.

Does any body knows, What is a passive investment opportunities?

While a detailed contract is essential for outlining the loan terms, a lien provides the legal weight needed to secure your claim on the property.

Because multifamily markets can change for various influences within a small area or neighborhood.Assessing the value from an income approach is the most weighted approach, that's a given, but the cost and market are not thrown out the window!

The taxing bodies, state, municipality and school district do NOT care who pays it only that it gets paid.If your father is actually paying less than $1,500,000 for the share that he doesn't already own, then the transfer tax should be on the LESSER amount.