The challenge we're facing is the lack of short term rental data for the appraiser, and we won't know if it will meet the debt service coverage ratio (DSCR) requirements until the appraisal is complete.Has anyone dealt with a similar situation?

As you know its near impossible to find a good cash flowing deal in CA due to sale price, taxes and lack of inventory.Last one I closed on was over off of Germantown Road it was a great 2 unit that needed a little TLC for $160K but passed an inspection and was livable.

I do agree the lack of control is a potential issue.  

If the sponsor is lacking here there’s no need to go any further.  

Here is my list of the most dangerous real estate related investments for the “non professional” investor lacking direct knowledge  and experience in these investments 1.

I usually end up with a list of buyers with down payments but I don't have any more inventory for lack of inventory (capital).

Dishonesty and lack of integrity in any form is a dealbreaker for me.

This is primarily what makes their work product substantially lacking in correct English grammar, legal protections, timely professionalism and many other ways any Securities Attorney will point out to investors.

From there, I would like to consider a 1031 exchange in the future to acquire more units.My current property management company suggested that they could handle a mid sized apartment building but I would absolutely not consider them for it as I believe they have overextended themselves and communication is lacking.

My apologies for the lack of information - I was sort of just posting to get a temperature gauge for office rentals in general.