I had doubts and still have some but now it sounds like those may have been necessary for their loan program after learning why it's a lower risk and FDIC insured requires that. 

This affords us excellent cash flow and lower maintenance on a 3-5 year commercial lease.

from your experience do you know if appraisers would choose closer comps but adjust a different search criteria such as a lower br/ba criteria and adjust the arv by 5-10k on a lower lower room or bathroom count or would they prefer a property further out just to match that criteria. this is probably a case by case basis.

Unfortunately many of the improvement costs do not deviate greatly when you’re renovating a lower cost property  in a particular market compared to a more expensive property  in the very same market which makes it difficult to absorb the improvement costs in some areas.

I would assume the reviews they have with them are on the lower side, and bigger PM companies are known to struggle with attention to detail on properties.

Find a military friendly realtor for lower commission fees if possible.  4.  

Those markets offer affordable entry points into duplexes or single-family rentals that can generate positive cash flow.

I would set up a family trust, if you have a ton of equity maybe you refi the properties into an LLC but if you are locked in with lower rates then I wouldn't touch the ownership piece yet. 

I found this deal on Zillow I didn't even try to negotiate the deal to bring the price lower.

Flipping can be cost-effective due to lower entry costs and growth in neighborhoods.