When I first started in real estate I set a line in the sand that said, “ I want to make at least make $300/door for a financed deal to be “worth it” after PITI (Principal, Interest, Taxes, and Insurance), plus a maintenance reserve.”  

I’d ask for a full accounting, not just to confirm the calculations but to verify that the penalties, interest, and default rates are legal in your state.For all I know, this loan is in full compliance and I’m misreading between the lines.

Here's our standard post response:In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

Thanks for the confirmation that this market cycle is pretty unique.It's funny, two of the factors you mentioned apply directly to me.

Having a good amount of cash reserves as you do will definitely help with getting a good rehab loan from a hard money lender.

I'm just still paying back on work that was done to the house previously, and working to build the proper reserves for potential repair/maintenance expenses on the property before any big upgrades like that can happen.

They take calculated risk with loans and factor in cash reserves for the rainy days.

Having reserves is key.

But not the 20% with the reserves required etc.  

Typically, you are at least more favorable for cash flow out of the gate with a MFH as opposed to a SFH, but I couldn't confirm the likelihood of positive cash flow.