Hi,In trying to tear down a single family house and build a two family house in Jersey City, NJ; this is the general trend here in JC nowadays.

The place is quietly coming around, which means appreciation is slower than other areas, but much more 'real' and earnest than if a neighborhood suddenly flips in a 'trend'  and gentrifies overnight.   

The property looked like it was in rough shape from the outside. 

Well, their income should flow into some bank account unless they are purely cash and never bank any of it - so requesting bank statements is probably as close to getting a gauge of recent income trend as we can expect to see.

If this is just touching your land but does not get up to the base flood elevation (BFE) of your house (or heat pump or basement windows), you may be in better shape to get documentation that will assist with this for the HELOC and any potential future sale.

Here are trends I look at in a market:- Unemployment - Job growth- Job diversification- Pay- Vacancy trends- Affordability trends (property values & rents)- Taxes- Landlord / tenant lawsJust to name a few...

If your Rental is in good shape, updated systems, well maintained, etc. the rates from some companies with only RC may be equivilant to others that will only do ACV.

(Bluer areas are ranked higher for better growth trends)Happy to help you dive in more if this is useful.

I guess in 2023, we will have the following trends:- stong market rebounds in few appreciation market , in relative to liquidity supply.- cash flow markets like OH,AL would be the highest/leading this appreciated market for few years (I I know Milwauke is reaching 20% appreciation in 2022).- but there would be a crash, eventually in a market where STR is saturated - there could be a crash in the CRE market, esp class A/B MF that started the syndication in 2019 and has to pay their balloon payment this year

If this trend continues, will the DSCR product become more standardized?