Late fee assessed and still unpaid.Month 3 rent (current month): 12 days late and unpaid.Every payment requires multiple follow-ups.Tenant repeatedly says “payment is coming,” but no follow-through. 

Hey Spencer this is really helpful, and I appreciate you taking the time to share your perspective.Reliability and consistency seem to come up repeatedly when I speak with operators as well.

Solid take Chris, this is 100% accurate and worth repeating for newer investors, DSCR is property-driven, not borrower-blind.

Those delays ripple outward — affecting leasing seasons, lender requirements, and reserve levels.This is where unrealistic optimism quietly becomes risk.I often see this with investors who underestimate how local conditions affect execution.

I've explained the situation to them and will repeat all the info on VRBO once it's back up.

We were told several times they would address it but it took several months.As a result of these issues, we were forced to use PTO and also work shorter hours, resulting in lost wages, while having to repeatedly make phone calls and plead with IH to address emergency issues, specifically the water issues.

We’re still active on 70-75% LTVs for purchase + rehab because we underwrite based on the asset and the operator's track record, not just a rigid box.The 'tightening' is real, but it’s mostly affecting those who don’t have a solid grasp on their ARVs or rehab timelines.

Two or more claims means higher premiums under Risk Rating 2.0 and a property that floods repeatedly regardless of what the seller tells you.3.

Our goal would be to owner occupy finance with the partner - move out in a year and get both sides rented and then repeat. 

Proximity to downtown and universities sounds great on paper, but you really need to dig into short-term rental regulations and actual AirDNA-style revenue data to see if hosts are consistently hitting occupancy.If your long-term goal is scaling, your first deal should prioritize strong, repeatable cash flow over speculative appreciation.