Send a written notice (yes, paper) to the tenants with proof of delivery required (the postal carriers have this time to an art form; it's inexpensive and you get confirmation via email or receipt very quickly; it does not require the tenant to sign - it just confirms that the notice was delivered.A paying, respectful tenant is golden.

What I was trying to say in my response is the units will be easily move in ready on delivery of the property. 

Even if a title company were to manage the setup making sure all parties are paid, the cheap debt and cash flow would not be enough to be enticing to any investor even if midterm rental could yield a healthy return. 

How much weight do you give to the cash flow benefit of cheap debt when the property is priced above market?

Existing deals will instead be saved by NOI growth driven by rent growth--if you have the staying power to hold on long enough.Supply:  High deliveries remain today mostly because of "hang over" from projects that are taking longer to complete than developers (and industry analysts) expected. 

It's amazing how cheap it can get when you're paying physical cash and having your contractor pick it up at the warehouse.

This is what I put together, and I think I'll wait to make sure rent on time in February before sending it via email and delivery confirmation mail. 

For markets that are "cheap" and provide cash flow on day one, there is a reason for this.

That is tight leverage for an investment 2nd position loan.A private investor might be willing to do it, it's not going to be cheap at all & will be short-term money & will not be a line of credit to take out at your liking.What is your rate on the 1st?

Most all of the cheap rust belt cities are going to have declining populations.