Ultimately, it depends on your goals (low rates, fast turnaround, etc.).

@Dorian Gray - I think part of the answer to your question depends on the likelihood of needing more funding in the future and if you have another plan to slowly build up reserve funding.

This might be better if you’re uncertain about refinancing or want to keep more liquidity for other opportunities.Since you’ll move in 5 years, it really depends on how confident you are about refinancing.

It really depends on how many units you manage, where you are listing them, and what features you need/want. 

It depends on the lender.

I think it really depends on if you are able to increase that cap rate with value-adds post acquisition.

@Ash Gowda - typically a 1.3-1.35 dscr.  5/7/10 (all dependent upon the lease term and re-ups); Rates fluctuate but for now from low to high 6's fixed.

Obviously anything can be negotiated or it depends on what you agreed upon, but what do peers in the industry consider acceptable for this and whats considered unreasonable... 

Main questions should ask about the seller's:- Reasons/Motivations for wanting to sell- Desired timeline to close- Plan's after selling (relocation, reinvesting proceeds, 1031 exchange, etc)- Back-up plan in case they are unable to sell within the desired timeline- Reasons for not already selling to/with a investor or RealtorAdditional questions will depend on the type of seller lead i.e. pre-foreclosure, probate, fsbo, absentee owner, etc.Here is an example of a youtube search you can use to begin finding call recordings.There are 1,000s and you'll find that the best/most effective ones don't even sound like sales calls.

And this also may be state dependent, as my  FL property is covered under a different carrier who has different available maximums for liability.