As a newcomer to real estate investing, I'm unsure which documents, such as the title or appraisal, need updating to reflect the addition of a bathroom.

Excellent location in Mesa.I shopped around and I found a mortgage broker who was able to get me a 6.99% rate who took the loan to UWM (united wholesale mortgage).I negotiated a $15k seller concession I used for a 1-0 buy down so my rate for 1 year will be 5.99% and then revert to 6.99% for 30yrs. and then we used the rest of the concessions for closing costs. in 6 months or 12 months I will revisit to see if mortgage interest rates dropped significantly to justify a refinance to lock in a lower interest rate.part of the approval process for the Fannie Mae 5% mortgage is to make sure that i could afford this property and that i have good credit, my income is consistent and stable and it reflects that on my tax returns, I have sufficient capital reserves for the subject property and my other 10 Multifamily properties (6 months of PITI for the subject and then it's percentage based off of the loan amounts and how many properties you have)I agree, the more that government "helps" they therefore are increasing pricing.

IE change your drivers license to reflect both addresses and pay the bills on both to make it like both are your primary residence? 

So, is this a sign of fewer people coming to Hilton Head or a broader reflection of the economy?

 - I suspect the cost reflects both the financing risk as well as the unpermitted work risk.  

Long term trends reflect fed policy, but the short term changes are based on the news.

I appreciate your data, your consideration of all of the issues, your capacity to be self-reflective and recognize the imperfect choice of the far better plans and proposals, your professionalism with presenting your perspective and your willingness to share your point of view.

As people started chasing yield, these prices rose too high in comparison to better vintage assets.It comes down to price, and your pro forma reflecting lower rents for these units.

I spoke to Jerrod Cook and he sounds experienced having self managed his own units and his investing values reflect mine.

Probably more of a reflection of the economy than anything else, but certainly something to keep an eye on.