I would demand a transfer of your funds in writing, immediately.

It's ironic  I'd bet if any of the tenants knew that another person at their job was doing the same work for 20%  more money then they would demand a raise.

And, pricing is determined by market demand. A

btw: An appraisal for MFUs is expensive and part of the buyer's loan process, therefore their expense.As a Seller, I would demand a Pe-Approvial letter as well as a Verification of Funds for the down payment before I would accept any offer - - otherwise Joey Buyer is just another lookie-lue. 

Kevin, I would think that during the Holiday season most any location would demand a higher rate than that areas low season.  

@Thomas Loggins   Probably because the more "sophisticated" institutional investors will demand a lot more.

Lower priced properties have to demand a higher percent of value as rent or nobody would rent them out. 

My guess is that this is a suggestion for being able to buy properties cheaply -- those properties that have known code violations are going to be in less demand, as fixing them will be more labor and cost intensive, so you may be able to get the sellers to agree to a much lower relative price.Just a guess...

I still have the right to make them reapply and demand a security deposit once I get them on a new lease, correct?

There are even some landlords on the forums who will do better in recessions: growth in renters tightens demand. A