@Loren Souers I'd have to run the specific scenarios with the rates and fees, but if you're OK with paying the higher closing costs, the Mortgage 1 deal looks good, particularly if you focus on CoC returns.

I got a new insurance policy at a higher rate.

Consider a quarterly bonus based on occupancy rates, maintenance cost savings, and overall revenue growth.

For $10K and a lower rate I'd be willing to consider delaying...but only if I knew that lender two was solid on closing in a relatively short timeframe.

Rising interest rates, slim margins, and unexpected costs can kill a deal fast.

It may help to lower your price during the slow winter months for a six-month lease, then bump the rate up in the summer when demand is higher.Zillow will tell you how long each listing has been on the market.

Forth, what is your interest rate?

The effort to foreclose, the limits on rates, etc.Maybe a unicorn to find HML that will loan him the necessary money, but I doubt he will find it.  

Further, running a very quick and simple valuation based on $900 rents, 8% vacancy, 25% op exp margin, and a 9% cap rate, I'm coming up with an ARV of around $83k, so I'd pass if I were you unless you can get a much lower purchase price.

Once you are an experienced investor and know rental rates and costs you can provide value to clients.