In regards to the OP's situation, if the loan amount is small and the lender it's going to is charging a point or two, 3-4 points is not out of the question, even for long term financing, but especially if the loan is a DSCR loan meaning no income verification, no tax returns or paystubs.Stephanie 

Did OP ever say what state/city they are in?

Also Ned to put this in context BALT is very Dense and its majority row housing.. to do that many homes in Fulton county GA would take years LOL its too spread out.Also for the OP  you have folks talking TAX  certs and TAX deeds to very different sales.. 

@Vince RodriguezAgreed, the OP should try to get the lowest rate possible, but that's not always Fannie/Freddie right now and it depends on their situation.I am always on the side of exhausting conventional loans first, but to say whatever is over 3.875% is a scam is not accurate.

OP, I do agree with you on inflation.

Hi Sam, based on your question about Op Ex, I am wondering if you have run a pro forma on a real or hypothetical property to see how it performs.

We started to add coin-ops conversion kits for the laundry machines in our buildings to help cover the costs of operating each machine and now tenants are complaining. 

Many years ago, I went to sort of huge real estate seminar at a convention center and I was speaking to two attorneys and randomly asked the exact same question the OP is asking and the attorneys rudely said to evict your tenant just like every other tenant with no regards to their excuse.

Can the OP or someone please give me the TL;DR version?

I would love to build storage locker units for each individual unit and add a coin-op washer/dryer.In my opinion the best approach is to have an honest conversation with yourself about the condition of the property from the tenants perspective.