If I’m right, why should real estate commissions be higher than, say, Charles Schwab commissions?

Often times, I advise folks to start with HML or PML and the refi into a DSCR loan with a bank/CU when the property is stabilized.I am going to assume that a HML/PML loan would be at a higher cost/rate than a bank that would play ball, so I would prefer that if possible...

One thing that enticed me was the potential for higher rents by honing in on the SAFMR and the zipcodes.

The reality is that you're buying in difficult market with high prices and higher interest rates.

These markets tend to have higher appreciation potential but are often cash flow negative unless you make substantial down payments.

But, that also gives them competitive pricing at higher leverage on fix & flip loans. 

You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases.

Here's one more on the other end of the spectrum...only 4 units but is higher than $1M.

I'm not assuming you do, but the luxury creep is real and someone has to say it.I would also focus on higher priced asset classes.

If the location is an A but the tenant paying higher rent was a B or a C then replacing the location with an A tenant at slightly less rent in some cases you can actually increase the value.Example if you had an (A) location QSR but tenant was Burger King franchisee and they went out the Burger King might sell at 7 cap.