Because of the size, I’d look at what apartment complexes are charging as well - it’s not a true comp but it does affect marketability due to the amenities that come with complexes. 

This defines the size of the deal for you.  

This could result in class action lawsuits where tenants of a building file together and basically wipe out even mid-sized landlords. 

Also when pricing them, look at the sizes. 

But now a days the title policy will read to that beneficiary and any subsequent assignee's.. and Tim I posted the state of CA disclosure document we used for multi bene loans. so you can see that.what should happen in these multi bene loans is a document that allows the sponsor to prosecute a foreclosure.. if you dont have that each bene has to agree and that is were these get sticky..  4 investor say foreclose and one says nope.. keep in mind in the mid 80s in the Bay area our loan sizes were already 200 to 500k for HML.

The average room size is 10 x 12, so you can think of a 2200 square foot house, and if it is a 4 bedroom now, you know there is definitely enough square feet to add a couple of bedrooms, and that's how you can be creative by making a deal when others see that 4 bedroom house as a 4 bedroom, but you just turned it to a 6 bedroom and made a deal out of it.

Right now its generally as little as 12.5 bps (1/8 of a percent) at most lenders so not really worth it.Regarding the terms you posted - I ran these through our sizing and they look in the ballpark of market, not much better or worse - with some assumptions, our pricing looks to be 8% flat with zero origination fee/broker fee and $1,000 underwriting for this scenario. 

The barrier is the additional complexity - now you are operating two sets of books, and filing two tax returns, and have more operating agreements, more state registrations, etc, need to manage cash better, need to keep in constant mind that your rents need to be a supportable FMV, which may require getting third party certification on your rents so that in the event of an IRS audit, what you have done is supported.In short...the size of the project, and the taxable income, need to be of enough scope to make all the additional costs and annoyances worth it. 

This will depend on the type of loan, size of the deal, experience, FICO, and property location.

With the size of your tax free gain on sale, there is no scenario where your after tax return would be better by keeping the property.