@Yusuke Koike if damage was that extensive where the unit is not habitable, check your state/local landlord tenant laws as some just require you let them out of lease, return deposit and refund rent for any time they’ve paid that they can’t live there.

I checked city of Arlington and the property comes under str zoning district.

Reno is an interesting market, not far from Lake Tahoe.what kind of property can get around 6-7 cap in Reno? 

We like to see at least 10% of the loan amount in a checking or savings account.

So while it's kind of a pain right now, I think it's not a bad thing for MTR operators - especially new ones - to have to do this kind of deep dive.

Not many private folks are going to lend that kind of money to stay in a 2nd position.  

Quote from @Kelly Beck: Check out Dave Meyers in the forums, blogs, or YouTube channel.

I kind of assumed that lenders evaluate the property based off income and that the previous tax returns for the property would be worthwhile to provide them?

If you have a time and check it out, let me know what you think.

If you have a time and check it out, let me know what you think.