Nobody needs to have experience in your market, they simply need to (a) be licensed in Idaho, and (b) know FHA guidelines.Chances are if you hear self-sufficiency test from your lender regarding 3-4 unit properties, they probably know what they're talking about.

In one instance I was told that the seller was expecting 92 to 94% of UPB, which was in that scenario equivalent to a 85% LTV, and I thought this was too high for the amount of risk and unknown involved.I would love to be buying these around 50 to 60% LTV but don t know if that s realistic currently?

Simply put.

BUT, please be aware of the followingMissing interest payments on a promissory note is not necessarily the result of a fraud, most often it is simply the results of a poorly performing business.  

Do they have the necessary resources to stay on top of all the tax issues such as 1031 exchanges, 754 Step-Ups, etc.Feel free to send me a private message if you have any questions here.A couple articles you can read that will be helpful:https://www.biggerpockets.com/forums/51/topics/1206189-cost-...https://www.biggerpockets.com/forums/51/topics/1204912-how-t...

Or simply google search multifamily conference near me and see what comes up!

Condos were built by a lot of cheap scumbags who are long gone and people are going to be left holding the bag on these.This guy is pretty good at explaining it:  Yak Motley Florida Condos;t=4s

@Alex ThomsenThe standard NC contract (2-T) has two different deposit options.

If you think you have average intelligence and a general hard working person, for non luxury STRs (competing with 3 star or below hotels in the area for average people who simply need a bed and a kitchen) I would use 60% occupancy rate to start in the beginning and then 80% after stabilization.

Do they have the necessary resources to stay on top of all the tax issues such as 1031 exchanges, 754 Step-Ups, etc.Feel free to send me a private message if you have any questions here.A couple articles you can read that will be helpful:https://www.biggerpockets.com/forums/51/topics/1206189-cost-...https://www.biggerpockets.com/forums/51/topics/1204912-how-t...