Micah - I think the loan size mentioned by EJ is real...

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Your income is a function of your portfolio size in dollars (more important than number of doors!).

This can be hard to manage if you have a larger property with a regular size washer.

You bring your end buyer to the table (C).

My house has a basement with one bedroom, a bathroom (without a shower), and a good-sized laundry/office space between the bedroom and living room.

Plus, the fact that you wouldn’t have to bring money to the closing table is a win—some investors have had to do that just to move on from a bad decision.That said, if you can hold on, cover the mortgage, and keep repairs manageable, it’s likely just a matter of time before values bounce back—especially with the projected rate cuts.Both options are valid, and there’s no right or wrong decision here.

Local bank or credit union would be the best fit on a deal this size.

Expense ratios vary dramatically depending on project size, age and other factors, but basic rule of thumb is the smaller the project the higher the expense ratio's, using a 33% expense ratio for a small facility (less than 150 units) is optimistic, smaller facilities are probably closer to 40%.

Regardless, though, expect higher points and fees overall because of the smaller loan size.