We have chosen distressed properties because of our past experiences and are comfortable examining properties that need help.

I will drive by the property today to check on things.

Also, they're buying it just over a 5% ( noi 3 / 58) cap rate and planned to sell three years later at the same 5% cap rate, with the largest influx of new Class A multifamily to the Atlanta area ever in the next three years to compete against this Class A property, which should only continue to drive down rents or prevent NOI growth at the least.

Auto was the driving industry that supported Detroit. 

I have cut out all music and have been listening to the podcast and audiobooks for the past week while I drive for work trying to gain as much information as I can.       

Your standards need to drive the property management company. 

It definitely depends on a lot of factors - where non-QM is generally going to be about 0.5%-1% higher in rate, but can be more than that or even lower than conventional with some more options - one in particular is if you did a longer prepayment penalty period (5 years - at a descending penalty structure or even 5% all five years), then that could drive the rate down even significantly lower than the conventional alternative.

I had to have my wife drive so I can work on my laptop.

But I never liked "work like crazy and drive a Flintstones car and reuse plastic bags until you have $2M, and then put the entire $2M into stocks and hope for the best."

I'd still be working for "the man" in IT driving 60 miles each way to work and spending 3 hours in one meeting on one silly, meaningless report.