This might work in a strong sellers market, or it might make people wonder what is wrong with the property to be priced so low (and then don't bother to go see it).While I like to price my listings in the middle range of what I think the market will pay, there are (for now) still lots of new agents that don't realize when you've priced low to hopefully start a bidding war. 

Normally 2/1 entire apartments in area go $1600-2100 ranges so these were surprisingly high for just bedrooms.

I also wholesaled previously in Baltimore and had a Carrot site in 2014-2016 range before we launched InvestorFuse (We ran PPC traffic to it using AdWords Nerds at the time while working on SEO.)I wanted to shoot over a few bullet points of data from a recent Performance Report and some feedback from a Product Analyst on our team.

Does anyone know of a lender that is asset based that can get in the 6.9 range?

Below are some general notes on DSCR loans:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available

If you choose to go the HML (hard money lender) route, then you may run into some loan minimum issues.Many HMLs have loan minimums ranging from 50k-100k."

Looking at the data you provided for Melbourne, FL:- Average rent is around $2,000-$2,100- Rents have actually decreased slightly year-over-year- There's a wide range of rental prices ($650 to $6,500)This suggests a diverse market with potential opportunities, but also some volatility.

Buying a property at 7-8% interest today, then having to refi again in 12-18 months at a cost of $3,000-5,000 when rates are back down in perhaps the 5% range is likely taking a step backwards financially.   

Thats not a wise gamble in most cases if there is a market change for any unknown range of factors.

For the places I have in Denver vacancy ranges from 3% over 3 years to 20%.