Is the higher price agent inflating to get the listing or is the lower price agent just not keyed in well enough in the specific neighborhood?

You’re not using a PM, AND you’re assuming you can charge a service animal a deposit and pet rent?

We will then, as the units turn over, get rents up a good bit further with additional design improvement renovations and hopefully reno into lower interest rates when they drop or at the very least in 5 years on our 20 year we'll have paid off enough to refi into a smaller loan.That is the only kind of smaller deal we can find in neighborhoods where we want to buy now. 

In lower-value areas like Sylmar, market values max out around $3.28 million, which results in a loss.The key takeaway?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Taking these two pieces of info will tell you how long you will take to get an offer, so if you go past that you should lower the price, and then the other action item would be to starting off lower than all the other properties if the condition is better than your condition.

You will hear about west side vs east side, while what is told is true, what is not mentioned is lower class areas are block by block. 

It's almost like they tack on a few hundred dollars to the order and forget to charge sales tax

Of course they are going to have bad credit or they would be looking in a better area.Another thing you may want to consider to drive more applications is to not charge the application fee.

If a nearby hotel is charging $650 per night for a 1000 square foot suite and keeping it occupied, would I not be able to charge the same for a 1921 mansion that sleeps 10 people comfortably?