For insurance relocation reservations I still get a full application (with background and credit check) for each person over 18.

The biggest draws for investors are not needing to provide income docs (no W2, tax return, paystubs etc needed), DTI doesn’t matter, you can close in an LLC, and not all lenders report the debt to your personal credit (so it doesn’t affect your credit score or DTI for future conventional financing).

you need all 3 of those. no offense but just to be direct - it sounds like you may not be ready to make offers.are you looking at properties in person? 

Speaking from personal experience, I have several STR rentals in California (I co-own STRental Pros in Orange County, Los Angeles County, and Riverside County).

Are you asking if YOU personally have $100M?

Or if there is a 10 unit made up of two buildings, or two 'sides', I'll let an STR person take one side/building/chunk.In Montrose I have a 10 unit that's made up of a 6 and 4 unit building. 

My advice (based on my own personal experience with investing in the Columbus, Ohio market) is to secure the asset even if it's not bringing in as much as you desire (within your finanial means of course) because today is the cheapest that property will ever be. 

Personally I live close by and I am all for it. 

Yes, I did notify in writing that the work that was done is very bad, I did visit the property once in person and met him.

& this is for properties with a value-add component via under-market rents. it has to be priced according to current rents, not potential rents. but also.. if the price you come to doesn't work with current rates, like it won't meet a 1.2x cashflow ratio or you personal COCR goals, offer what you want to offer & explain why!