@Ethan McRaeI agree with @Kory Reynolds, don’t make this so complicatedAlso, I’ve yet to hear a story where these online docs have been tested in court.

There are countless items (I had to re flash, cap, tuckpoint and seal a vent chimney to the tune of $2500 to stop a water leak into a bathroom. 

Another 20 percent said that 81-90 percent of their tenants were current with payments.You can fins whole survey results at https://www.narpm.org/docs/COVID-19/rent-survey-press-release-apr2020_no-link.pdfCheers, 

@Ronald Isgate thanks for the Info but no local bank is going to finance this property or provide any stated income doc product. 

When I immigrated to the US many years ago I made sure my doc's were always under control all the time, and you would do the same.

If not, your neighbor's roof could be leaking and causing issues in YOUR walls/ceilings.For me, having control over repairs and cash flow are very important, but there is more self discipline in budgeting for potential capex items, that could be covered in the HOA. 

Asset Performance (DSCR, Vacancy, Leases, Profit & loss, ARV, and the market it sits on) Gather the entire history of P & L, rehab and leases as well as original purchase docs and current mortgage if applicable.So start gathering the necessary documents so you can speed up the process.

The loan app seems to suggest that it needs supporting docs in the form of Schedule C, but I don't use Sch C.

The interesting thing is that our Condo Docs. specify a breakdown of his portion being 47% and residents paying 53%.

I just copy and pasted that advice into my 'future' doc that I'll look at once cash-flow is ramped up.