Experienced borrower seeking out a refinance for a portfolio of 7 properties in Kokomo, IN. An appraisal confirmed the total as-is value of the portfolio is at $934,000. All properties, minus the two vacant homes, are rented for total of $4780/month. Sponsor has good credit and bank statements reflect sufficient liquidity to meet the reserve requirement. The borrower opted for a 73.55% LTV cashout at 1.18 DSCR, with evidence that shows an ability to increase this once the two vacant properties are rented.