Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I live in CA.I put my Indy-based PM on my landlord registration application and they haven't come back and told me I need a separate agent of process.

Then I make them send one progress photo halfway through.

Diane, if you plan on holding the property for the long term then a cost segregation study would be applicable.

I'll add one angle specific to out-of-state ownership in Ohio: make sure your management agreement includes clear legal compliance provisions.Ohio has some landlord-friendly aspects, but there are specific requirements that trip up out-of-state owners:Key Ohio-specific items to confirm your PM handles:Lead-based paint disclosure (pre-1978 properties) - Ohio takes this seriously, and violations can be costlySecurity deposit accounting - Ohio requires deposits be held separately and returned within 30 days with itemized deductionsCleveland-specific ordinances - If your property is in Cleveland proper (vs. suburbs), there are city rental registration requirements and inspection programsEviction timeline management - Ohio's process is relatively fast (30-45 days typically), but only if done correctly from day oneContract provisions to insist on:- Written confirmation they're handling all required notifications (lead paint, security deposit interest if applicable, move-in/move-out documentation)- Proof of Ohio real estate license (required to manage properties for others for a fee)- Clear delineation of who handles legal filings if eviction is needed - some PMs coordinate but don't file; you want to know upfrontOne practical question to ask during interviews:"Walk me through how you handle a tenant who's 5 days past due on rent in Cleveland - what's your exact process and timeline?"

Waiting is also acceptable but as long as the secondary plan is covering costs then usually progressing is better than being on the sidelines.Good luck! 

They are the real estate gurus who can hook you up with sweet terms and make the loan application process a breeze.

An example for easy math of a DSCR 1.2 ratio would be $1,200 of rent to $1,000 of expenses (the expenses that lenders consider generally for DSCR loans on 1-4 units are the new mortgage, property taxes and insurance (HOA if applicable).

Human review consistently catches issues automation misses, and those misses are usually what turn a bad placement into a legal headache.Consistency protects you.Apply the same screening criteria to every applicant for that rental to avoid fair housing exposure.Mid-term screening can feel different, but the fundamentals have not changed.

Adding that “the outlook for economic activity has clearly improved.”On Inflation Progress and Its Affect on Rates:“Inflation has eased significantly from its highs in mid-2022 but remains somewhat elevated...