First, Austin made a good part about potentially having two loans, most lenders were still getting their clients into government loans ie FHA, VA, & USDA with rates in the high 3s in early 22, now it is high 5s/low 6s.

(I am getting pretty tired myself sounding like a broken record).Direct mail marketing works SO poorly, you need to send THOUSANDS of mailers, AND you need to send these thousands of mailers SEVERAL times to get a deal.So:BECAUSE the performance is SO low you need to send thousands to COMPENSATE for its poor performance AND hit the receivers several times BECAUSE the performance is so low to get a deal.Conclusion: "Direct mail marketing works"WHAT THE HECK?!

Anywhere else I'd recommend a regular fence that'll be low cost and efficient

The commission paid greatly outweighs having to go back on the market and potentially getting less than you listed it for the first time.Some individual markets are better for this than others, but if you have an agent with a great strategy on the list side (professional photos, staging advice, etc) and you pair that with listing the property at a low price; you increase your chances dramatically of getting a bidding war and not only offsetting the commission but potentially making more than originally planned. 

Because they are locked into low APR.

For example:Task              Estimate       % Certain       Low Estimate       High EstimateDemo            $1,000           80%               $800                    $1,200Roof             $8,000            90%               $7,200                 $8,800Construction $8,000         80%               $6,400                 $9,600Misc              $4,000            90%               $3,600                 $4,400--------------------------------------------------------------------------------------------TOTAL           $21,000                               $18,000               $24,000For me this is useful to determine a good deal because if the high estimate is still good I know that even if everything goes poorly it will still be ok.

How to you properly charge the tenants seasonal usage (high in winter/low in summer) and when there's not equal gas appliances between the units? 

Just some food for thought for those who invest in mortgage notes and think buying seconds cheap gets you in the business at a low barrier to entry  - it is cheap until you have to reinstate or payoff a first lien.

there are so many forum posts on BP from folks who bought a random property in a 'low cost' market and got crushed by deferred maintenance or challenging tenants.i looked at a few of your other posts. 

@Ellis Hammond for VA skip tracers with TLO subscriptions, go to Fiverr, search skip tracing, and you will get a list of virtual people who provide this service for the low.