Now I fly Delta so I use that CC.

Should I bump the true market value down even though everyone knows that transaction cost delta is there?...

I personally would not invest further in the neighborhood as taxes are exceptionally high and the delta in rents will not cover you.

This property appraised fine, but the delta is 300k in just 6 months, so they are pulling out the microscope. 

Make sure your rent delta is high enough to withstand minor repairs, and save up enough for a 25-30% downpayment.

Most highly sophisticated investors/funds are today buying for the delta between Cap Rate of 7% and cost of money at 4.5%.

There is a nice delta between the mortgage balance and market value.

Also in your state will title co. do a double close IE  let you pay  seller A  with buyer C's cash proceeds and middle man B makes the delta. 

Our populations aren't particularly growing.I know that the interest rates are 4% on 10-year non-recourse GSE debt, and I know that on paper a 7 cap creates a 3% delta, but damn - it's a 1960es building in freaking Ohio.

Account Closed  you have set these up in a most precarious manner... and I know gurus and others talk about doing these deals this way.you buy owner finance or sub too... then you resell owner carry on a wrap.. and the thought is you make the delta between the underlying mortgage that you have and the new buyer..But these are really just sub prime deals that are destine to default.. it would be one thing if you owned them free and clear ... but you don't so what's happening is your obligated to pay on the first lender .. while your wrap payee is defaulting.. thereby putting you in a very negative cash flow situation.. and on top of that you have to pay the 2k or so to foreclose to get the asset back and will probably have a damaged house.while this sounds great on paper.. the defaults are constant and at the end of the day many lose a lot of money and the people you bought from the original owners either sub too or owner carry are really at jeopardy.. as you will soon find this very costly...