I was told his work is the best and all his houses are top notch quality, I trusted their word thinking that things will come up in appraisal as well as inspection. the inspection was good, nothing negative was on the inspection, the appraisal was also correct.

I don't think that's a good strategy because you can never time when the correction happens.

So, they could be correct or they could just be trolling for money, but you should have done final testing.

@Logan Allec is 100% correct, as usual.What your accountant missed is a checkbox in his software.

Hopefully you have the correct insurance in place etc.Hope this helps

Many insurers have left the state so it is important to be able to get the correct STR insurance.Start calling around and get some bids and ideas on cost and fit it into your budget before you start offering on properties.

Is that correct?

The other thing to note is most times Pref equity is pretty save assuming a 10-20% market correction but in 2021-2023 we saw a 30% correction meaning pref equity in deal specific deals were underwater without any options.

Asking in the correct forum will get a better response.Read the RULES!

Did you ask him to correct the issue?