It also did not have a pool like your property so that would probably lower the desirability as well.

Shouldn’t it be at a lower multiple?”

If you tie the bonus to a new lease, a bad employee will lower standards to find tenants quickly.

I've had smooth loans close with Kiavi and I've had rough ones, same with Roc.When Loans start to be troublesome:1) The borrowing entity docs are a mess2) The appraisal numbers are lower than expected3) Messy background reports4) Loans happening in an environment where market/rate fluctuating unpredictably 5) Your loan officer and their team are poor at their job6) Title issues that depend on county docs, that can be slow and painfulThere's more but it's Friday and I'm tired....

The old adage is "marry the property, but date the rate" meaning that if in a few years interest rates are lower you can refinance again into that rate. 5.

You also need to consider that at a lower percentage of money down you will be paying a Mortgage Insurance Premium or MIP. 

It's also nice that they have their own recommended insurer, those rates are much lower then what I would pay up in the northeast. 

My kids and extended family are in the lower 48 so I don't mind excuses to get down there- and the sun too! 

Your starting depreciable basis should have been the LOWER of what you paid or the FMV in 2010 when you converted it to a condo. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.