At 26, having 4 properties and looking for more is quite the story.KeyBank man should be ashamed of himself.I'd disagree with some of the assumptions in this thread.Rate locks don't need to be for more than 30 days.  45 days can cost you a quarter point depending on the lender and it's really not necessary.Always remember that origination points and discount points are two distinctly different things.For us, some origination fees can be just 2 points and some are just 3 points.

Multi-treatment where necessary on the concrete slab, as well as in the master bathroom, which was a bird catch.

What condition is the house in, what is the rent, how many bedrooms and bathrooms, how is the school system, how safe is the neighborhood, etc. 

If you price the deal based on the current rent roll, you will not be remotely competitive in your offer, since many other investors will price it on $1,600/mo, with a small discount to account for the remaining term of the existing leases.On expenses, as noted, what seller pays is likely very different than what you will pay.  

Let's see, 6 adults, 4 kids, two bathrooms.

Finding off market properties at a discount, fixing them up to add value/equity to them and then flipping them via 1031 and move to the next one.

We also have a screening requirement to do a video interview with any applicant having a FICO score under 620 - the whole point is to have them show us their kitchen, bathroom and one other room.

Since from this viewpoint money is coming into 1 pot & coming out of that same pot to pay for your housing expenses, there's no discount on the household housing expenses.

I always get emails asking me to add discounts.

Well his little kids uses that bathroom I believe and prob not supervised.