Something to consider with MF inside the loop: tons of those older C to B properties sold between 2013-4 and are coming up on refi or adjusting for investors with 5/15 ARMs.   

I'll have to dig it up. 

Rates will go up but it's not like it going to be double digit in 2 years or anything. 

We'll see if that continues.My view is that the winter here might be a good time to buy some fixer properties (hopefully) as the arm chair investors get out of the mix with the winter weather starting. 

By my calcs, the OP should be able to drive some positive free cash flow (and mid-single digit earned ROI) with total rents of about $3400 (assuming a total basis of $453k). 

I attach the proof of funds and preapproval from the hard money lender to every offer we can (Some of the digital offer systems you cant).I'm definitely assertive type and would love the chance to negotiate.

The loans are better than commercial terms in that you can get a 5/1, 7/1, 10/1 ARMs or a 15 & 30 year fixed rate.

Banks have a vested interest in getting lowball appraisals in BRRRR situations, and if appraisers want to keep working for their main clients, those banks, they quickly learn to be well-versed in the art of giving the banks what they want, money-making lowball appraisals that screw you, the investor, and take money out of your pocket.An appraiser is going to come in with a point-and-shoot digital camera, or, in the worst case, use her/his phone.

They have cost advantage.After mastering the county title records site, I went to my local county foreclosure auction armed with cashier's checks and placed a bid at my second auction.

Rate is at least single digits.