A lot of investors are making there tenant "buyers" responsible for repairs but if issues arise and the tenants seek legal consult you can get in some deep trouble. 

For the last year or so people have been talking about a "rising rate environment."

The property is close to where my wife was brought up and where she and I still have family in case emergencies arise.  4.

@Aida Casino    Keep in mind Hard Money is more expensive which should only be used if you have no cheaper option when the opportunity arises.

There is still time to shop around before closing -- I've already contacted some of the other lenders I work with to try and get a rate from them, but am skeptical that a similar situation might arise (they promise one rate, switch to another prior to closing).Relevant info: loan amount is for $51,750 (with 25% down).

Apartments are better suited for a short term value-add flip, have WAAAAAY better options for 3rd party management, and are great investments in a rising market.  

But  the issue arises elsewhere too, like in the notices section.

It's amazing how quickly a tenant finds the rent money when you text and deliver them a 3 day notice. 10) Remove any obstacle from any part of the business make everything easy, at your fingertips then when a situation arises you're ready and can act.

We are very low maintenance and have been in the game long enough to know that issues arise and there is no perfect investment.Any advice would be greatly welcomed.Thank you in advance for your time!

Remove any obstacle from any part of the business make everything easy, at your fingertips then when a situation arises you're ready and can act.