Generally buying in nicer areas leads to better experiences and confidence in your investing, but lower cash flow when you move out.

Find a private lender who would give you that debt for a lower amount.

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.

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. 

I have lowered the price significantly this year. 

We do know the border had its issues, but currently illegal crossing are lower compared to when Trump left in office.

If your rental rate is below the market anyway, a Tenant might consider this to be win as they would get the lower rate in the beginning and just rise to the level they were looking at everywhere else.Step clauses can be written right into the lease, or created by using 3 month lease terms with an auto-renewal at the step up rental rate price. 

The price points do make it hard to cash flow even with the lower interest rate subject tos. 

Some PMC's will charge a lower percentage fee, but will charge it whether tenant paying or not.