Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

Did you have a clear detailed scope of work? 

My budget is in the $200-250K range.Please feel free to let me know if additional details would help, and thank you in advance for your time and advice! 

So I did not pay extra for it, but chose it anyway over other places.

Quote from @Anderson Banegas Cerrato: Scott, appreciate the detailed response!

Then she still only makes 2% extra for taking the risk of you not paying versus a bank.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

The 2-3% points in extra cost are worth it if you plan on using as I described above because the use would be for a few  months at most and due to that short term use you can survive a rate adjustment up.But, if you have no plan to payoff the debt like when using for a down payment on a long term hold why pay the extra cost for flexibility and have the additional risk of the adjustable rate with the amortization looming when you can get a fixed rate second mortgage. 

Our current lender is offering us 170K cash out refi ( I will be researching this in a greater detail ).

Living in one unit and renting out the others could offset a significant portion of your mortgage, giving you extra breathing room as the sole income earner.