Borrower is new client under contract to purchase the subject property located in Alexandria, IN to hold for long term rental income. Subject is an SFR currently leased for $1,100 per month which is above the market rates per the appraiser's estimate ($900). Subject appraised for $120k As-Is and a CDA confirmed the value was acceptable. Sponsor on the loan with Excellent credit with a mid-score of 753; Bank statements reflect sufficient liquidity to meet the reserve requirement. Total loan amount 73.7% LTV & 75% LTC with 1.34 of DSCR.