Quote from @Matthew Beninate: Quote from @Sarita Scherpereel: Quote from @Seo Hui Han: You may want to consider local banks / credit unions just because many of them will require or give you more favorable terms for things like HELOC's and other line of credit products if you have a deposit account with them. 

Looking at this mathematically, if you assume a 50% non-renewal rate (industry standard) and use the low end of the range of $5,000 per non-renewal, there is a loss of $50,000 per year on a 20 unit property.

Does not appear to be low IQ person to me .

Additionally, since my parents are nearing the retirement age, I'd like to prioritize low-debt, high-cashflow deals.

These sellers paid much less than what the going rate it today, likely have no mortgage or low interest rate mortgage and do not need to push rents to market value to cash flow.They get solid returns at their current rental values, have minimal headache with current tenants and they don't need to do major repairs to get their properties sold for a solid value. 

You are likely overpaying by $5,000.Broker fee of $3,000 and Processing Fees of $2,000 seem out of place...but then again, i never used a broker to get a loan so I am not sure about that.If the broker was able to get you an interest rate or loan product that you wouldn't be able to find on the open market...its high, but likely fair.if you are getting a loan product that you could have gotten by going to a normal bank...seems high and unnecessary. 

Thank you for taking the time to do a deep dive. 2% home appreciation was also a fairly low estimate, it looks like in that area it is actually around 5-6%.

Thanks Jack for your response, I am trying to avoid condo because of the low appreciation issues.

Also, for low value properties, most lenders wont take the risk. 

When I worked as an MHP broker, if the park was on a lagoon, I could never find a buyer no matter how low the price got.