For sure mate,I bet in higher end markets where you are based in, it's mostly clients F@$#%ing over the contractors..In Toledo, it's the other way around.We mostly get screwed over by contractors heheHappy Saturday 😁 

He is a local CT based lender who knows CT and DSCR loans.

Your tenant base for an MTR that requires a minimum 6 month stay is small.

The properties are currently about breaking even based on their first year as rentals, but the management company used seems to be leaving some on the table in my opinion. 

Set up purchase criteria that will define success for you, an arbitrary minimum purchase price is not a great criteria, instead I would use something like proximity to good schools, neighborhood improvement trends, etc.Finding good deals is really tough right now so it is important to have criteria that are solidly grounded and based on reasons that will steer you toward profits.

@Russell Roberts, can you make draws for 10 years or 20 years?  

Hi @Brooklyn Hunt, I'm based in Southern California, but I have started my out-of-state real estate journey in Indianapolis.

The lender does IMO… Nobody declares bankruptcy if they own properties with cash unless they make dumb mistakes and cross collateralize.The cash investors might loose money but they won’t be bankrupt.Also, only when you build a base of 3-4 properties with cash, and fully understand the true income of your portfolio after consecutive years of performance.

Just try to extract what value you can, then focus on scaling your own business based on your own personal circumstances... one deal at a time.

In fact, the whole point of real estate investing and generating returns should be to make investments based on an advantage (knowing a good deal in the market, etc.) - if there was perfect information easily available to everyone - no individual mom and pop investor would ever have a chance at real estate investing returns at all...