You could easily be $100k in for water/gas/power/sewer if you’re talking 4+ lots. 

Unfortunately, you have no power over the tenant until you own the property.

At the same time depreciation recapture is taxed at regular tax rates, not capital gain rate.

The only issue is the interest rate is 7.125%.

Don’t chase rates.  

Overall nationwide cap rates are rising because of interest rate increases.

We only get a statement from the management company about the rate.

Also lots of sellers have locked in <4% rates and don't want to buy at 7% new investors who dont have low rates will just deal with the new normal or historic rates.

There are a couple REIAs in the Tri-State area, but none of them are backed by the power of BP and the incredible people that it tends to attract.

A line of credit is adjustable rate with interest only payments that will have a "draw" period usually of 3-5 years for investment properties (usually 10 years for primary home) then will amortize over the remaining term after the draw period.