My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

It's OK to be more tenacious with negotiating down, and make the most out of a slowing market to buy at lower prices.

For instance, your bathroom picture is so close up that it looks even smaller than it probably is.

I suspect there would be massive blow back if the feds attempt to lower sec 8 rental assistance. 

@Michael Beirne Lower priced markets such as Baltimore are very difficult to operate in utilizing entirely 3rd party support.

However, I made the decision when interest rate was lower and there was support for an appreciating real estate market.

Mobile closing anywhere?

I paid about $1500 in closing costs between title, appraisal, etc, but the original loan was wiped out in favor of a new lower rate. 

A.I. says I’m cutting it close.

Factoring market conditions at the time of refinance, I negotiated a lower rate and conceded a lower term anticipating rates to normalize in the 4%-5% range by 2026.