Do you have to replace consumables like toilet paper and coffee.

Note any differences, because prospective tenants certainly will.What I'm getting at is the low rent and higher rent properties may not be an apples to apples comparison,and to get the same rent it's more likely if they are very similar.That plus the current low rent tenants may not be able to handle a huge bump like that, so you will need new higher earning tenants.Good Luck!

Why not just get licensed and be an agent? 

The problem isn’t the property, it’s Alex.This all seems to be an attempt to slander my name and I’ve reported this to BiggerPockets.

@Steve HallI’ll respond to your points in reverse order because it’ll make more sense to our situation. 4) In my own naivety I thought we could get a discount if he stood to make as much or more by financing it himself.3) We are willing to pay 5% because of the assumed discount, smaller down, and no mortgage insurance.2) True, but we thought there would be an advantage by avoiding mortgage insurance and having a smaller monthly payment.1) Yes, we can qualify today. 

Currently out of the area til summer, but definitely need to grab coffee sometime!

The QI must be an unrelated party to you and to the transaction.   

That can be an issue.If the new investor needs such a small amount of money that shows the lender their level of financial expertise.

"And this is not even to mention the fact that if I hire a GC, a lot of what he will do is just sub out much of the work, in which case I'm basically paying him a "finders fee" for a sub that for all I know I could have found a better/cheaper one myself"......If you think that GC's make all of their profit by "accumulating" a list of sub-contractors and sitting at the coffee shop doing nothing you're so far over your head you're looking up at the Marianis Trench......

@Chris Seveney Yeah, I thought that might be an issue depending upon the (nanny) state.