My hope is that future owners in this area are investors that treat their investments like a business and young, working couples or small families.

I have outsourced some of the acquisition tasks because of that, but you have to treat it like a business to succeed, not a side project.My end goal is to quit my day job and wholesale full time.

Airbnb has treated me well for the past 5 years.

Considering I bought it in 2012 (a much better buyers market), should I treat the property more as an asset and work to rent it out sooner rather than later?

All five units have termites but only myself & one other owner wants to treat. 

Commercial is not really very consumer friendly.As to redlining, lenders must be consistent in the loan requirements and underwriting, the can't treat one application significantly different than another, as in using different appraisal techniques for one area, that is still redlining. 

How long -- Time on the market and price (reduction) are close cousins -Price softens as time moves on and motivation and reality is realizedEverything will sell at a price -The first thing I'd want to do is get the history of the property - how long on the market, why is it vacant - what's the reason for selling - is it listed - look at listingWhat is the mortgage balance - is it current or in the arrears - What other liens or obligations are on the propertyHow many owners - decision makersWhat is the commission - will agent splitAre they open to a reasonable and creative offersDo they want any profit or to just get it out of their nameCan down payment be paid over time -How much paper with they accept - delayed payments - principal mortgageWho is the decision makerHow fast do they want to settleEverything is negotiable - CONTROL IS KING - learn how to control real estate - it is a short cut to cash flow - it is the best way I know of assigning properties.Who controls real estate - An agent with a listing agreement (treat them well - they are in control for a period of time)An accepted option agreementA buyer with an accepted contract of sale with contingencies

If the agent calls me (they are usually slow to follow up) I will make a reasonable offer subject to inspection and a study period.Everything is negotiable - CONTROL IS KING - learn how to control real estate - it is a short cut to cash flow -  it is the best way I know of assigning properties.Who controls real estate - An agent with a listing agreement (treat them well - they are in control for a period of time)An accepted option agreementA buyer with an accepted contract of sale with contingencieshttp://www.realtor.com/realestateandhomes-detail/M...Charles

So I guess different lenders will treat this differently.

I'm sure they'll have you believe they treat both the same but that's BS.