The borrower didn't move forward because the rate increased due to the lower DSCR, and the borrower was receiving less cash out.This property was part of a larger portfolio that my client was considering refinancing, but wanted to test the waters with 1 property first.

Two quick tips: pressure‑test demand by talking to local senior centers and PMs about waitlists, rents, and must‑have amenities, and get a quick consult with an attorney on the 501c + LLC structure so your mission work and investment ops stay clean and fundable.What’s your first move—pilot a single 55+ rental in a target neighborhood or draft the nonprofit/LLC outline to share with potential partners?

I’ve tested a few, but Baselane has been the easiest for small portfolios.

If tenant demand stays steady at different times of year, days on market stay tight, and rent-to-income ratios don’t stretch beyond what’s sustainable for the local workforce, that’s usually the signal that the neighborhood has real depth and not just good-looking spreadsheets.A few miles can change the entire tenant pool, so I treat stability of demand as the first filter and everything else as supporting data.

I have questions about how to find data about demand and how to price the rooms.

Two quick tips: pick one market to test for 30–60 days with a tight buy box, and have a local PM sanity‑check rents, taxes, and neighborhoods before you underwrite anything.Of Indy, Columbus, Raleigh, and Charlotte, which one do you want to run first, and what’s your initial buy box so we can sharpen it?

The big pieces are: (1) you must place the property in service before 12/31 that means livable, furnished, photographed, and actually listed; (2) you need to meet one of the STR material-participation tests, which usually means putting in 100+ hours yourself and doing more than anyone else; and (3) the cost seg firm needs enough time to run the study and deliver the report so your CPA can book the depreciation.

Most people hear 100 hours = unlimited deductions and never realize the real test is outworking everyone else, especially the property manager.

The largest included Meta's $7.5 billion Hyperion data center in Louisiana, the $2 billion LA Convention Center expansion, and Eli Lilly's $1.7 billion manufacturing facility in Indiana.

Why isn’t your question “Who is sharing false data with the city?”