Repeat borrower looking to cash-out refinance this property located in Frankfort, IN and hold it for long-term rental income. Subject is a 4-unit multifamily home with 4 leased units, appraised for $260,000 as-is and a CDA confirmed the value was acceptable. Sponsor on the loan has good credit and bank statements reflect sufficient liquidity to meet the reserve requirement for the deal. Loan structured and priced in accordance with the LTR model. Total loan amount 75% LTV with 1.80 DSCR.