But you appear to miss the fact that the third price in that formula is affected by location which includes school ratings.

I might have missed it, but are the properties paid for or have a mortgage? 

But, we still hire outside to make sure we don't miss anything.If we had not hired an inspector when we first started, we would have not caught countless items, and would have overpaid on every deal.If you're going to hire a property manager, and expect them to give you an objective analysis, good luck.

Let me know if I missed anything.

You seems to be on a conservative side, which is good, it means your project will be calculated and less likely to fail but being conservative means also missing out on opportunities based on being to hesitant. 

If anyone has a different opinion or insight on this that I'm missing please feel free to mention it!

Just kidding, I'm a Marine vet and miss hanging out with the sailors in Pensacola. 

P&I payment: $716Origination Fee: $4500Underwriting fee: $1395 These quotes look way too high - might be missing something but ran these numbers and we would be more in the 7.5% with 1 point ($900 Origination fee) ($1,000 underwriting fee) for this scenario

Nicholas - what advice would you give me to help change this perception that BP has made everyone feel like they’re missing out, even if that means investing in expensive deals?

In fact, it was even worse because they overlooked a ton of code violations (missing smoke detectors, etc.)* Accounting system is f-ed.