But if it includes other closing costs, not necessarily absurd.5-year adjusted rate is pretty common for this kind of loan.

I know every multifamily in Sioux Falls is listed as occupancy over 95%, but in many cases that is just false.

Case in point, some renter next door told the downstairs tenant there was a suicide in her unit which was false as it occurred in the upstairs unit. 

In discussions with a local realtor we were told that the government (I assume city or provincial) has imposed a cap of slightly more than 2% per year on rent increases AND for the most part it's the tenants decision on whether to extend their lease.Does anyone in BP-land know this to be true or false?  

That's not as absurd as the guy that told me he can give me 6% MPY just a month or two ago.

Hey Charles & Dan,I'm in the same position as I live in Brooklyn and the prices here are absolutely absurd!

I now call them the Bureau of Answers True and False:) If they are not anti-landlord, they should help.

Hi Rasiel,To say MLM is a scam and it doesn't work is completely FALSE.  

Meaning, we were living in a false high so the current values are the more reasonable high or norm.

Saturated and over priced in most markets, there are still deals to be had for cash buyers, but we tend to be taking on bigger rehabs and tougher situation, that we use to, also, SO MANY NEWBIES that will get crushed in this market. especially with all the predatory HML's and PML's giving these newbies false sense of hope.