Could be a higher rate, lower leverages, higher reserves, etc... varies by lender.Cheers!

We have zip codes that have lower and and higher end areas within the same zip so not a good marker to use.Going along with that a lot of the neighborhoods are very street by street or change pretty quickly by block, so you have to be aware of that.

That may not apply to you, as a financial professional, but I thought I would share the story.Obiously you could re-lever your portfolio to bring the ROE back up, but then you have to place those borrowed funds somewhere that nets a high enough return that the portfolio is ahead, given the drag of the interest and any transaction fees.    

There are significant advantages to investing here (lower barrier to entry, much better price to rent ratio's, etc. etc.).

Everyone is transaction based.  

On the other hand, pros include increased cash flow, engineer-based data for the clients CPA, audit protection (with the right firm) and the ability to deflect that recapture fee with a 1031 transaction.

There are several out there that I am aware of that are taxed at rates which are currently lower than ordinary income rates. 

We tried to explain this to VRBO call center reps, but they can't offer anything other than telling us to lower prices to pre-Jan 6 rates. 

Bottom line, make it so that you never need the seller again after the transaction is closed.

I'd bet that this note is worth more to you than to most buyers until the note is much lower LTV, but I'm a novice in this space.