I've dabbled in traditional real estate since 2009 and investor RE loan products as well as conduct due diligence for private lenders leveraging their cash.

I also dont know if I am considered a private lender or hard money lender.

Consider HOA regulations as they could pose additional risks, be sure to thoroughly review the Covenants, Conditions, and Restrictions (CCRs) regarding rental restrictions or limitations.Strength:Elderly tenants are inclined to move less frequently, resulting in reduced turnover.

I have been assured by the lender that there will be no due on sale enforcement. 

Hello everyone,I have reviewed a CAR property management contract with a company and they have 5% written in the line that states “ an overhead and service fee added to the cost of all work performed by, or at the direction of,  property manager”.

A solid lease is certainly important but you can probably use a standard lease agreement and pay an attorney less than $2000 to review it.

My income is really solid, but I don’t know if I a traditional lender will do the work to see it or be confined by Fannie Freddie UW standards

You will meet many like minded people, landlords, investors, lenders and attorneys there and all tradesmen.

Many do not qualify and having a PM does not help your case.You may want to read up on IRC 469 and review the IRS's Audit Technique guide. https://www.irs.gov/pub/irs-mssp/pal.pdf

And I did not catch it until reviewing monthly bank statements, which is why is he now in arears.