I get it....prices depressed, loan extensions, new interest rate caps, somewhat stable rents, fighting new build inventory concessions. 

Always good to learn different approaches — especially in this market where values shift quickly.

If they still refuse, you sue them for specific performance.

When you’re analyzing NPNs, what’s your go-to checklist before making an offer?
Do you focus more on property value, borrower situation, or lien position first?
Always interesting to see different approaches!

Outdoor furniture is another one we replace at least once a year because of weather exposure.Over time, we’ve learned that choosing durable, easy-to-clean materials (like performance fabrics and metal frames) makes a big difference, it saves both time and money.Curious to hear how others are handling this too!

Some end up diversifying into lower-cost Midwest markets to stretch their equity and keep leverage low while still meeting the exchange requirements.

For some of our loans we do give the option for an extension, but it is extremely expensive.

In DFW, performance data on small multis isn’t as standardized as apartments because Texas is a non-disclosure state.

PCB, 30A, Destin and FWB are all different markets in a way and perform differently. 

And those that do often have rules such as "You have to own the unit for a year before you can rent it out" or "The HOA must have at least 30 days to perform a background check and review/approve your tenant, and we charge $250 for this privilege" (in addition to your month of lost rent, or longer for all the prospective tenants you lose  because they couldn't wait that long to get approved).