I figured this was a great value add opportunity and a way to lock a property before competition comes in when/if rates drop.

If it ‘works’ at 8% it will work at 6% but it will be a lot more competitive for buyers when rates drop further..

Any recommendations on managing the ones where i dropped the ball. 

They dropped $3825 on me in dusty, unmarked bills

You might get lucky.I'm dealing with my own issues right now as I have a 5 plex that is not nob and tube but is screw in fuses and the insurance company (auto owners) threw a fit and demand the fuse boxes all be replaced with breakers or they will drop me.I'm right down to the wire and they have issued a do not renew order until fixed because it has taken 7 months to get all the paperwork and consumers on board with the update.I have a really good electrician coming in two weeks now that he finally has his permits, parts and pieces, electrical company ready for the work to be done.The electrician warned that he was only doing this because he was friends with my PM.

We had a recent FHA quote with 3.5% down in the high 5%’s..What do you expect from the purchase and refinance markets if rates drop by 1%?

Sometimes dropping the price boosts listing attention and you end up getting offers that you can work with in a counter. 

Should I be looking for undervalued properties that cashflow out the gate at a 7% interest rate or should I be looking for one's that cashflow at a 5% interest rate and then wait for the rates to drop?

The appreciate play is an underrated component that people who are waiting to get into the market until rates drop more may be missing out on. 

While this is exciting and opens the door to opportunity, they really need investors to make the shift since they aren't used to buying the land and funding the build without the buyer already in tow.So I have an abundance of deals to do basically those parts, either develop subdivisions with all the horizontal infrastructure and sell lots, or fund builders spec homes in these developments, preferably all sustainable because a known stick builder can come in and build without any help.So if any of this interests you or you think I would be someone you want to know, drop me a message and we can talk all about it.