In speaking with our insurance agent, we decided not to make an offer.

These properties also offer you the opportunity to perform cost segregations which help with those current taxes. 

There is a company names Hemlane that offers that "light PM" service that may be interesting for you instead of a full blow PM company that may cost 7-10% of revenues.

What loan terms are currently being offered for these type of rentals? 

For this reason, I would take inventory of the local banks within your target markets that offer financing options that best serve your real estate needs (again, usually the smaller local banks), and build depository relationships with them.

We offer 80% cash out depending on the state the property is located.

We offer many of the same services as this agent, but we have no problem with investors flying to Detroit to check things out - we actually prefer it!

Maybe offer a 2 yr renewal with $1500 yr 1 and $1600 yr 2 or just a one year renewal with $1600 in rent

There's a world of possibilities out there, and each one offers unique benefits.You might find that single-family homes are readily available and could be easier to manage or sell if the need arises.

If everyone uses your tool, and everyone gets the same answer and places the same offer, then no one has any competitive advantage.