You take the div to pay on margin %, your sub 6%. 

I also have a friend/sub-contractor with 40 years experience in all areas of construction who works with me on most of my deals for low cost labor.

For the water metering- are you doing a sub meter like PUBS or are you putting in direct meters for every home?

The lender will be looking for close to that amount.This is not a sub to deal at all.

Their customer relations person quit and you can NEVER talk to someone in person.  

@Lorraine HaddenThere is no way to predict for sure since we don't know the future, but the chances of sub-3% mortgage rates happening again anytime soon is not very likely.

The customer service/property management hasn't been as proactive as I thought it would be.

No, it wasn't a home run deal, I didn't get it sub to (interest rate was 7.625% PLUS MI).

Over the past 20 years, the insurance market has a whole has been pretty soft, with a few flashes of hardening (after 911, and after the sub-prime issues of 2008), but nothing like what we're experiencing right now. 

Many commercial leases have custom clauses.