So we either do an additional test  for $600~, or we have to evict our CMHA section 8 tenants. 

Those areas tend to have strong rental demand, and it sounds like you positioned the property perfectly before the growth happened.The exit strategy was also impressive—rolling the profits into a new property through a 1031 exchange and turning it into a short-term rental with an additional studio unit is a great way to keep the momentum going while increasing cash flow.Thanks for sharing the details of the deal and the lessons learned, especially about doing deeper due diligence on existing tenants.

Turns out the “changes” are that our directory listing that previously covered us nationwide (50 states plus DC and PR) would now cover 5 states we select - and any additional states are available for an additional $200 / month EACH.  

Unfortunately, in addition to real estate I have a full-time night job and that schedule doesn't allow me to attend.

I'm currently looking at a DSCR for the additional funds for renovation. 

You cannot treat tenants differently based on any protected class in your jurisdiction (California has protected class in addition to the federal protected classes).no need to treat marginal tenants the same as good tenants.    

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.

I pay my accountant an addition 1200 or 1500 for the year to manage that end as well. 

If the rehab numbers don’t make sense for the property, that’s usually where the red flags appear.A few additional things lenders typically look for when underwriting rehab projects:1.

More broadly, it would be useful to hear any additional feedback or critiques related to how syndications are managed from an operational standpoint.