Based on personal experience, I would add assuring the lender is specifically authorized to perform an on-sight property inspection, at the lender's discretion / convenience. 

Hi Sarah, i went to petscreening.com but it seems to only apply for property management companies, I'm a small individual landlord, do you know what proof i can ask from tenants?

We have been in contact with other individuals throughout the state and they are all saying the same thing – prices are down, time to fill units is up, and evictions are up.

Investors need to do a thorough background check on the key INDIVIDUALS that they would be relying on to invest and manage their money.  

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

We are already surrounded on three sides by urban zoned homes.My neighbors and I have been approached by two individuals, one is a neighbor who is a real estate agent, and the other one a friend of a neighbor, who works with a real estate attorney; both individuals asked us to join them in working with the 5-6 developers they have approached.

On the lending side, we see a lot of private individuals that try to lend out of their IRA just because the borrower is a "good guy".

Each unit is individually owned, with some owners holding multiple units.A few things I’m trying to understand better:Pros and Cons: What are the main benefits and challenges of owning multiple units in a property like this with a condo setup?

Like most things in real estate, a lot depends on the circumstances of the individuals involved and not just the numbers and figures.I hope this helps explain my thoughts, and I apologize for the lack of clarity when I defined "arbitrage".

Just another thought, they do have submeters that can monitor the individual spots and you could charge back the total cost to the tenant if they are assigned spots.