"Just a year ago, I was a circus clown, but I discovered the secret to performing open heart surgery and I'll teach you this weekend at the Airport Days Inn for only $19,999."

It looks like a couple of corporate investors are dumping the worst performing rentals in the low 200ks, they need work.

@CJ Bennett i think you should first remember that few people have a skill set to be able to perform their own maintenance and repairs, possibly larger and more complex projects.

Perform the same task in each app to ensure a fair comparison.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.Run a credit/screening report on yourself.Enter a maintenance request, assign a vendor, and attach a fake invoice.Enter charges to the tenant's ledger.Enter recurring charges and automatic late fees.Sign documents electronically.Run owner reports.After testing a few apps, one should clearly stand out.

It effects every aspect of the property and performance- the type of loans and insurance you need will change if you don't hold the property in your personal name. 

Morningstar apparently has a database of multifamily loans that are not performing.

In the Reno, NV market the single-family is out performing the multifamily because of the short supply and higher prices.

Initial Investment Length of Investment (Years) Shares Class A Preferred Return % LP Profit Split Class A Waterfall (Y/N) Waterfall Details Reinvest Earnings Option (Y/N) Physical Real Estate or Note Only Refinance Projection (Year) K1 Loss (Y/N) Yearly Interest Earnings Performance Average Annual Return IRR Refinance Return of Initial Investment Year 1 Tax Loss Effect Net Return (by Year) Total Return on Initial Investment

Underwrite for the worst you'll accept and then perform to your best ability to maximize over time.

I agree with what others have said, but would also add that the SBA lenders I’m aware of would not have an issue with the business only (provided the business is performing well), although as you mentioned it is always more desirable to have the real estate involved.