It performed well last year and has a proven track record.

When you have several rentals the other performing rentals cover everything and you don't feel the stress from the one nonperforming rental.

I have no part in it other than owning the property and performing property maintenance.

Quote from @Matthew McLaughlin: Is this a market you believe will perform well for the next 10-20 years?

Do you perform regular preventative maintenance to avoid emergencies or are you more reactive?

(I am getting pretty tired myself sounding like a broken record).Direct mail marketing works SO poorly, you need to send THOUSANDS of mailers, AND you need to send these thousands of mailers SEVERAL times to get a deal.So:BECAUSE the performance is SO low you need to send thousands to COMPENSATE for its poor performance AND hit the receivers several times BECAUSE the performance is so low to get a deal.Conclusion: "Direct mail marketing works"WHAT THE HECK?!

We invest in both performing and non performing loans and when we acquire a performing loan at a discount, we have in house MLO who can try and refinance the borrower, we also will offer a discount to the borrower to refinance the loan.

If you have a 12-month history of the property's performance, you may be able to get some wiggle room with more local banks for it.One thing that may impact the lender's ability to lend could be the Debt Service Coverage Ratio (DSCR), but as long as the property cash flows well then that shouldn't be an issue. 

Can the syndicator be removed if they are not performing? 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!