Also, you should be focused on constuction lenders who offer best leverage (usually those who will capitalize interest reserve &  finance a portion of the soft costs), lower floors on the rate since most banks tie their construction debt pricing to the fed rate, perhaps offer lower or no pre-payment penalty if the property reaches the permanent financing phase of the loan product before you are able to refinance and low or no required depository relationship outside of the actual operating ccount.

If it requires anything barely beyond a broom sweep and light dust we have cleaners come back in and finish the job at the tenant's cost. 

If the property was constructed earlier than 1978 you will be required to complete lead testing and upload the results prior to the rental license being issued. 

Housing in the NYC area is obviously more expensive and will likely require a larger down payment.Thanks

Hi @John Fairchild, all other KCMO long term rental property owners here:Do you eventually figure out the business license requirements or the need to pay KCMO city tax?

When using DSCR financing, even when vesting and borrowing through an LLC or other special purpose entity, you will be required to personally guaranty the loan.

However, we're aware that success in real estate requires knowledge, strategy, and experience.We're reaching out to seasoned investors who have navigated these waters and come out successful.

@Michael Primavera Sure, from a literal sense, less expensive assets will require smaller down payments.

A house built in 2015 will not require as much CAPEX/repairs as a house built in 1915. 

You’ll also need to consider whether the tenants will get along with each other—living with multiple people requires a certain degree of “chemistry”, mutual respect, and consideration, and if the tenants are at odds with each other, nobody’s happy.