@Alec Barnes As the owner of a property management company in Texas, I completely agree that a solid screening process is essential for placing quality tenants.

Their customer service was poor.  

Unfortunately, we get too many calls from clients that got the run around, poor communication and service and/or were the victims of a "bait and switch". 

Focusing solely on numbers often leads to the purchase of low-quality properties.

I just closed a DSCR loan on a Duplex with Total Quality Lending.

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

I'm curious, at what point does this reflect poorly on PM and suggest I should get antoher PM?

Majority of the houses are old and require frequent repairs in addition to a poor tenant base that can't pay on time and don't care about their credit.

Completely agree with you on this; I'm not making any claims to the quality of these lenders here.

There is another fund called Aloha, which is about 30M and is also doing very poorly.