If a bank does this, they have no flexibility in their lending and must meet Fannie Mae's and Freddie Mac's requirements in each loan.

As it relates to hiring your Property Manager- Go to a local REIA meeting.

I'd like to meet the property management company and the business people(cleaning and handyman related) so I could paint a better picutre.Thank you for the info.

I would encourage you to find local REI meet-ups in your area.

But then it was a nightmare of communication, we soon realized that we had to do a bunch of songs and dances to convince them to sponsor our deal, it took 4 or 5 days for them to make time to sit down with us only to tell us that we needed to schedule another meeting in another 4 or 5 days to get Tyler on the phone and let us try and convince them to sponsor us and by that time someone else was awarded the deal and we lost out.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

The challenge we're facing is the lack of short term rental data for the appraiser, and we won't know if it will meet the debt service coverage ratio (DSCR) requirements until the appraisal is complete.Has anyone dealt with a similar situation?

I’d love to meet you.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

However, the law remains in effect, and the Department of Justice has appealed the decision, adding further uncertainty.Key Considerations for Businesses:1.