Not counting on the rates to go back to 2%-3%, but if you are buying a deal right now and you can buy it with a DSCR or a full documentation loan.

The key is to clearly document investor returns as performance-based debt, not equity, and to secure their position with a lien or deed of trust if possible.

In this situation, where there is no W-2 job or other earned income, the net income from real estate operations could be treated as subject to self-employment tax (FICA).It is therefore essential to maintain accurate and detailed records documenting your level of participation, income, expenses, and management activities.

Most decent attorneys can easily pierce the LLC.Better steps are to make sure you have the correct STR insurance and then you can always add an umbrella insurance policy if you want additional protection. 

If the county lists no land value did you confirm your HOA ownership documents don't actually list you an allocated amount/portion of shared spaces and or land values? 

Those extra steps catch fraud, false documents, and applicants who might otherwise slip through.In short, don’t just “check the box” because a package looks convenient—make sure the data behind it is accurate, current, and reviewed by people who understand housing compliance.

There is no such thing as "NARR approved" documents. 

For example: At the end of the year average stays should be 7 days or less for it to be an STR (IRS), host it yourself - do not use a property manager initially, materially participate in the STR (look up the 100 hr. and 500 hr. rule) - this total hour number is for you + spouse,  document ALL details on the work you are doing in the STR, do a cost seg on your property, use the cost seg to file for bonus depreciation - any STR property put into service in 2025 (after Jan 20) is eligible for 100% bonus depreciation (HUGE PLUS!).

Bring documentation showing you registered with DCA, the late delivery date, and proof you tried to resolve this ASAP.

Fore DSER we always talk to our borrowers upfront to let them know they need to get us documents ASAP so we can lock in the rate.