That tool really sounds ideal...I think in most major markets now that are either saturated or balanced in terms of supply/demand now more than ever amenity rich properties are a must. 

They were told that since they will be purchasing a fifth property with a Jumbo loan (with total value of loans in excess of $4 million) they would need 120 months of reserves for all of the loans put together (about $1 million in reserves). 

Would we not qualify for a 55k loan? 

By signing below, applicant(s) give permission to (1) current and former employers to release any information about applicants’ employment history and income history to the above named person;(2) current and former landlords to release any information about applicants’ rental history to the above named person; (3) current and former mortgage lenders on property that applicants’ own or have owned to release any information about mortgage payment history to the above named person; (4) bank, savings and loan, or credit union to provide a verification of funds that applicants’ have on deposit to the above named person, and (5) to the above named person to obtain a copy of applicants’ consumer report (credit report) from any consumer reporting agency and to obtain criminal background information about applicants.

They now have 5% conventional loans you can use on multi family homes now.

The property manager asked if I have a short term rental permit which I do not so must have told VRBO and they blocked the calendarA few questions:Is a short term rental permit required in Pittsburgh?

Currently managing 2 short term rentals in Los Angeles.

Three years ago I bought my first big rehab project for $81k, and got a 10 yr. construction loan from a local bank to rehab it. 

I'm assuming it's a big building so that would be something you should review in the by-laws in terms of what you're entitled to.I would get in touch with your personal accountant/CPA or perhaps a local real estate specialist in NYC (there's a few in the forums) regarding your scenario.

However, right now there is no rush on the short term rental.