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Borrower is an experienced investor looking to cash out on the subject property located in Dundalk, MD. Subject is an SFR the borrower acquired in December 2018. Property is currently leased for $1,650 per month which is below rate per the appraiser's estimate ($1,800). The subject was appraised for $207k As-Is. Sponsor on the loan has good credit and bank statements reflect sufficient liquidity to meet the reserve requirement. Loan structured and priced in accordance with the qualification model. Total loan amount 75% LTV and with 1.18 DSCR.