If you have a PM that is stealing from you, they probably have all sorts of ways to prevent you from knowing that.I would be surprised if any licensed property manager is misrepresenting the rental amount on the statement.

Understanding the risks associated with any investment, being prepared for the worst possible outcome, and having a plan for when an investment doesn't perform as expected is essential.

I have not heard of one of those, but am gearing up to buy my second house and could possibly use some sort of loan program like that!  

Sell your worst property first.

@Roman Balmakov If you are planning on holding the property long term and have enough reserves to cover even worst case scenarios it could still be worth it. 

It does not appear the lender used an attorney to draft the note, as its the worst note I have ever seen for a $2M loan.Lessons learned: if you want to be a professional, then act like one.

At the national level, it's the best of the worst in that industry - a lot left to be desired in the customer service department but still better than doing it on your own.

These kinds of situations are the worst. 

I am tired of preparing for the worst... preparing for the worst is killing me slowly and I might not ever make it to experience the best.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.