Note I 100% know that CPM is not LTR PM with a few tweaks- I have lived and practiced this for over two decades. 

They will based on the comps and your ability to repay the loan.

Congrats on building that :) As far as the ability to purchase it as a primary with 5% down, yes you definitely can.

It has great potential and the ability to cash flow nicely.

As a lender (aka “Maker”) to Norada, you are a valued member of the Norada family.The purpose of this correspondence is to provide you with an update on the repayment under the terms of the promissory note (“Note”) as an obligation of Norada Capital Management, LLC (“Norada”).As with all businesses, Norada is subject to market factors that could impact its ability to make payments.

Also, any best practices for room rentals that you recommend for screening and keeping tenants.

If you are not starting from a very strong financial position and you do not have the ability to quickly stockpile cash quickly from other means then I definitely agree with that statement from the book.

Practically speaking, it’s going to be quite challenging unless you spend significant time.

Value adds that could bring up cashflow/value:- renovating units to bring rent up to 6-7k/month - ability to rent out parking space on the property as lot is large - trailers, parking, RVs etc - about 1-2k/month cashflow. - property had TDR trasnferable development rights and can be built 5 stories on it.

Since there are often different entities, there are different skills and systems needed.With that said, I can tell you are definitely better at building systems that I am (I have built up some best practices, but they mostly reside in my head).