Start documenting your design choices now - before/after photos, actual costs, what buyers actually respond to.

Something I’m seeing more of lately with BRRRR investors isn’t deal flow — it’s refinance friction.The buy and rehab go fine.The numbers look solid.Then the refi doesn’t come back the way people expected.And the reason usually isn’t the property.It’s tighter underwriting.Lenders are looking harder at:Insurance costsReal, stabilized rents (not pro forma)DSCR margins after refiClean documentation of rehab expensesA year or two ago, some of this slid by.In early 2026, it doesn’t.The BRRRR investors who are still moving smoothly are adjusting early — padding their numbers, documenting everything, and assuming more conservative refi terms from the start.BRRRR still works.But it’s less forgiving if you’re cutting things close.For those running BRRRRs right now — what’s been the biggest surprise at the refi stage?

Document your casual contractor convos with follow-up texts.

You should require business formation documents, state license (if required), commercial liability insurance and clear use clause defining number of occupantsAs for damages or issues, you would enforce the lease against the operator, not the elderly residents. 

Document everything—keep the quitclaim deed and correspondence confirming lender acknowledgment in case of future questions.This approach preserves your ability to get a 30-year fixed rate while still getting the liability shield from your LLC.

.• Even if stabilized in 2–3 months operationally, many DSCR lenders still prefer 90 days of documented collections post-HAP start.• Rural refis are often capped by appraisal methodology, not cash flow, so conservative comps like you’re using help.On reserves, keeping post-refi liquidity is smart — especially since Section 8 timelines can drift if inspections get delayed.Curious: are you planning to refi immediately after the first HAP payments hit, or waiting for a full quarter of collections to strengthen lender options?

Make sure you have a fax machine, cause you'll need to send your documents that way.Rental registration is $70 each, plus convenience fee.

This is the exact form the underwriter will use:  https://content.enactmi.com/documents/calculators/Form1038.C...

Otherwise, they will screw you for their own compensation.Inspector: You want an unbiased and competent professional that will properly do their job and document it.

A few quick recommendations:Confirm it qualifies as residential rental (27.5-year) and watch for any personal use issues.Be conservative on interior components (cabinets, sinks, related plumbing/electrical can get scrutiny).Lean into the amenities — hot tubs, saunas, exterior lighting, concrete pads, landscaping often drive solid 5- and 15-year allocations.Make sure renovation costs are well documented — invoice detail makes a big difference.Double-check placed-in-service date and bonus eligibility.Sampling doesn’t apply unless you’re dealing with a portfolio.When structured properly, STRs can sometimes outperform traditional long-term rentals due to amenities and upgrades — just don’t get overly aggressive on structural components.Hope that helps 👍