And in my case, it was just the Buyer who was asking for it (not a lender). 

It's for the tenant's benefit, but you will benefit from it over the long-term.

Love all of this information.

@Jonathan Greene thanks for that shout out! 

As a custom builder for decades, I dealt with this way more than once, especially with new subs that had not worked for me before.Back in the old days we used to just go with a verbal ok, but in the last 20 years or so, it is imperative to have a written CO (even an email sent from the jobsite) from the Sub and then I would add 20-25% and submit a CO of my own to the customer.

There used to be some landlord seminars for Dallas Housing Authority ever so often, so that might be a good place to ask if they are still doing those.One thing to think about is if Section8 might be subject to the DOGE cuts?

Compare those owners with younger owners who have higher incomes and more desire to build large reserves for the future with the older folks who won't see the future and you can see the problem.

I am planning on 20% down , then a fixed payment based on current typical rates for the next 5 years, then a balloon payout at the five year mark.  

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

You gain experience for the next one.Fear’s just a sign you’re growing.