And are you finding lenders are still strict on DSCR, or are any of you getting flexibility if the deal is strong?

Hindsight my generosity could have set me back in the neighborhood of $10k in total unpaid rents and attorney fees plus my own time.As I mentioned above its entirely my fault, I should never have allowed this and should have been more strict.

.• Are there any markets I should avoid right now due to instability, strict rules, or weak management options?

We are strict on cancellation policy and bookings are great in both markets.

Generally work takes longer than expected so important to build in a cushion so you don't have issues with financing if you have strict deadlines.Many fix and flip lenders will require a line item budget in underwriting to have an idea as to what the money will be used for if approved and it also helps to set up the investor for success. 

Our market is competitive and we strictly deal in cash offers for fast turnaround.

How do you communicate to your rehab team when your financing terms create strict timelines?

We start with a strict pre-screen before we ever show the property.We verify:• Voucher size• Income portion (if any)• Household size• Move-in timeline• RFTA readinessThis eliminates 90 percent of applicants who aren’t actually a fit.2.

Focus on the big three: plumbing, electrical, HVAC.Section 8 inspections are strict, and these three systems will make or break pass rates.

From the lending side though, it is very difficult to fund condos and the lenders are very strict with their rules around condos.