The costs are heavily run up by the borrower’s ability to take advantage of (1) judicial states foreclosure laws (2) bankruptcy laws (3) we as lenders having to pay taxes/insurance during borrower’s default (4) legal fees we pay to contest BK filings or other delay tactics (5) deterioration in property since loan origination.  

The deed holder which is publicly listed in the local recorder of deeds is all anyone needs to identify the real estate owner and file a claim. 5.

First, I'd check your local and state laws. 

Quote from @Erik Breunig: I don't think he's lying, and I recognize that Geraci is a law firm that prepares these documents, but it was also plausible to me that many DSCR lenders might use forms that were prepared by or variations of documents with similar provisions.There were a number of items that I identified as being problematic.

I'm starting to look in STRs and mid-term rentals for Bay Area rentals but have to navigate the local laws of two different cities.

Consider applications complete when: seen property, completed applications for all adults, & application fees paid.Tenant Screening -Ensure that you learn about tenant screening, local pre-screening platforms, true people search, state court network, etc.

Regardless of the service you choose, remember to always follow these steps to stay compliant with the law:     - Obtain written consent: You must get a prospective tenant's written permission before running a credit or background check

THEN I had an attorney review it to make sure it complied with all federaql, state and local statutes.

@Greg MorrisSome law in CA sounds ridiculous?!?!?

Understanding the local laws, redemption periods, and title issues is key.