(You have to spend time with your mgr each month doing a brief review, even if nothing has happened).Understand that this statement was totally made in a vacuum (which we obviously don't exist in) and doesn't take into account the delta of risk associated with getting burned by a bad manager, bad vendors, etc.

I generally replace every sink faucet with a delta faucet as well.

So $300 (rent delta) + $600 (maintenance and cap ex) + $95 (vacancy: 5% of $1900) = $995/month to live in a $1400 unit (savings of >$400/month). 

I know we like to classify property like they are commercial properties .. but what are you buying C's Bs and you know some markets Cs are Bs in others and Ds in others.Your spot on with regard to community banks... most have it right in their lending charter they can only loan to those that live and work in the footprint which is usually within 100 miles of the market.PM is the key and bears repeating.. also remote rehab as you stated can be everything from semi rewarding to down right risky to downright wipe out.. this is why turnkey is so popular granted you can garner some delta between cost and turnkey mark up but you have to have the time and ability to do that and its not realistic for beginners or those buying just a few properties.  

Rarely do folks go longer than that as the rate delta is just not worth it.Personally, I prefer variable rates.If you are purchasing a reasonably sized building ... say 12-16+ units, I would seriously consider incorporating the building in its own holding company.

Haven’t seen much backing from RTR on what’s going on, and had one response from Eric at delta to update us but still awaiting that response.

So here is what you do... if the sub too seller has equity or a delta..

As far as taking over a mortgage, you need to see what the interest rate is as opposed to what interest rate you can obtain on your own as you would want to make the largest delta on leveraged capital (debt).  

So the delta is $110K.  

I am considering going with Delta Community Credit Union.