I wouldn't think it would take a private lender (which is much higher priced) than a typical mortgage broker's rates.Is there a reason you think you need a private lender?  

Reason for asking is that I am trying to understand what a reasonable target rent per unit is for specific geographical areas. 

It's always good to have another reasonably priced and reputable pool vendor in my arsenal to share with clients.

(Not a lawyer so this is not legal advice) You've listed all the reasons why people fire property managers, it sounds like they've just done a poor job of meeting your expectations. 

We're fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

The bank institution we partnered with offers a bi-annual administration fee of $450.00 USD + VAT (16%).I’m a Mexican Realtor working alongside a Master Broker with a presence mainly in the Southeast of Mexico and the USA, specifically in NY, Miami, and Orlando.

Hard money lenders have a good amount of flex when it comes to FICO score and typically the main issue that borrowers with low FICO's have is that their max loan size gets cut which doesn't seem to be an issue here.

They care about what they estimate it would cost to rebuild the home.All else being equal, yes, older homes are more expensive to insure than newer homes for a variety of reasons. 

Hi Aaron, any particular reason that your mentor suggested buying rental first?

Quote from @Jason Burkart: Quote from @Theresa Harris: Whatever you do, I'd keep it in your name if you are the one paying for it, in part for some of the reasons others mentioned (if at some point she goes into a retirement home and needs to use her assets to pay for care).Are you able to pay for her home for 10-20 years?