Plumbing fixtures are Moen / Delta and fiberglass tub / shower base and surrounds.

Do you classify each property as one or the other based on its delta from the median price, or is there a 'hard' signal to indicate if a property was renovated?

As rent increases over the years through inflation my delta should only increase.

In this situation, given that the primary loan isn't a gift, can we fund the delta with hard money for 3-6 months, then refi out the bridge debt into a conventional/agency loan?

the lending facilities to the HML have probably gone up a tick.. but my commercial loan rates we pay have not moved yet .. we are still at 5% .. and I am sure the HML with large bank credit facilities for HML are at about the same rate so they make it on the delta. then you have the mom and pop lenders like us who only use private money and our methods are a little different but pricing can be higher because of flexibility and frankly we dont have massive amounts of cash to loan we we need higher rates to be profitable. 

Our plumber told us to get Delta or Moen shower heads as they are higher quality and are easier to fix and that a "good" one should cost no less than $100.

We work with a lot of investors and the only ones that keep comming back for more after their first deal are investors from the top ten metro areas like the Bay Area, LA and NY - the economic delta is large enough that it makes sense to go out of State. 

"At the close of 2012, apartments were leasing at 18 units per building per month for projects leasing for the first time, according to Delta.

There's still the APR delta between long-term business/personal REI loans which I'll try to ballpark this week.Jeremy, how long did you wait after getting the loan before transferring title to the LLC? 

The delta between the current NOI and the pro forma NOI is where I get excited when I am doing a deal.