Once you quit it of course becomes substantial harder to get new loans for more properties. 

The old houses in Baltimore, 100 years in your case, can need substantial work to replace very dated wiring, plumbing and heating systems.

IRR sensitivity tables around rents and exit cap rates show that many B and C class properties can absorb a fairly substantial compression of rents and cap rates and still remain profitable.Under that stressed scenario, what's interesting is that the passive investors on deals with preferred returns appear to do fine but the sponsors will not be making much money. 

You must substantially improve the property purchased.

So, here is my rant.1)Our fellow  residential agents out there even in the hottest of markets invest in taking great pics.

We raised everyone’s rent substantially - but not to full rent.  

We've grown substantially over the past two years and just until the past month we grew strictly from word of mouth (as well as a lot of good shoutouts on BP). 

What I don't know is: 1) whether the whole process needed to be started differently  (I can refer you to a qualified professional who specializes in partial exchanges). 2) whether you're interested in taking a passive approach on this (as this partial exchange would be into an asset managed by someone else.

When you use a commercial lender because you choose to use an LLC or want to go no income verification, the fees are substantially higher.Stephanie

Are you only able to refinance if the appraisal and purchase have a substantial differential, such as in your example?