An effective elevator pitch should be in your bag of tricks.

This deal is much too tight, you will be the bag man for the bank at these numbers.

Not my cup of tea, but from a financing perspective FHA/HUD financings are strict on compliance with FairHousing /ADA standards on properties built after 1990.  

They understand their job is often difficult being the punching bag for both sides of a management transaction that can last for years.

Doesn't seem like your cup of tea.

@Dave MorrowLet's backup a little from asking whether your math is correct and look at the tool (or in this case metric) you have selected.If you have a 3" Robertson screw, you are not going to reach into your tool bag for a Phillips screwdriver or a hammer.  

I just like playing tea party, I guess......Best of luck and let us know how it goes!

In Sioux Falls specifically, I would absolutely not want to own a facility down at the Tea exit for the reasons you mentioned, but I think facilities close to residential areas will maintain good occupancy numbers. 

My statement around interesting offers may have been misleading and sound like I got offered a bag of golf balls and gerbil food but in actuality it was just some seller carry offers that were interesting.

Not familiar with MI, but Cali has a mixed bag of originators as well.