You just need to really make sure you understand and are cognizant of all the features of a floating rate loan - often times the structure can be complicated and you don't want to miss something, especially related to any "caps" - just make sure you are better safe than sorry

I found a few handymen to go deal with all the issues.

Like all income related to real estate sales, the payment is from broker to broker, and disseminated to the licensee under the terms of their independent contractor agreement. 

Hey Justin, totally can relate with you being from an expensive real estate market - I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

Any 2nd lender has a much higher risk of a loss from the DOS, and that's if they can even wrap their head around the title/loan name issue.

They would have audit, exam and compliance issues with having a foreclosed junior, and successor non-obligor behind them.

I knew it was a risky bet as Baltimore has much crime and systemic issues they can't seem to overcome.

So it is calculating the profit using increased rates for cash flow that has not come in yet.It's a relatively minor issue, honestly for estimating purposes, most people are probably not going to find this ruining their deals, but I'm a bit obsessive with getting numbers right and this sent me down a rabbit hole tonight figuring it out. 

The takeaway here is to become familiar with determining loan quality for yourself when working w/ a broker.In addition to the capital gains issue Jeff mentioned, there is cash drag.

I've used their credit and background checks for years without issues except for one fraudulent tenant/application.I have noticed on most of the applications I don't see anything pop up for the background check but the credit check seems pretty thorough.