Because you simply can't afford to build product to rent for $1000/month)In a rational and well-educated environment, investors are willing to deploy at 5% cap for such fundamentals.

Down Payment: Lower down payments, such as the 3.5% required for an FHA loan, let you keep more of your funds, but they also result in higher monthly mortgage insurance costs.

One spouse is getting out of nursing school in 6 months and will start making money, or one spouse is expecting a raise shortly, etc etc.

In the last 4 months of learning with TaxLien Code and WealthCon (Ryan Pineda) , we are one step closer to purchasing our first property; any valuable advice is always welcome! 

After maintenance, I should bring in $1200 a month cashflow.

- Broad language excusing PM from any responsibility (including that of anyone they subcontract out to)- Charging the owner additional "convenience fees" if they "fail" to perform according to an agreement (with broad language about what that means)- Making the owner pay for any mediation / attorney fees for both parties (with no cap specified)Specific fee structure: - Management Fee: 10% scheduled rents (up to 3 units); 8% up to 15; 6% up to 35- New tenants placement (not renewals): 50% first month rent- 10% mark-up on all service fees (no receipts required)- 15% mark-up on total cost for any capital expenditures- Flat turnover fee- Flat evictions fee

Lots of sprinting and longer periods where there is minimal activity.Leasing season is 2.5 months of non-stop tenant inquiries and requests.

It sounds like you may benefit from a 12 month bank statement program.

You could possibly do a bridge loan, maybe a 6-12 month term to pull some of the equity and rehab, then sell or refi if you plan to hold.

Most DSCR products at the moment have a 6 month seasoning period.