Quote from @Melanie Bor: I recommend you attend some networking meetings and speak with other investors for personal recommendations.

Hello,Does anyone have insight into the current trailing (T12/T3) cap rate for 1980's multifamily property (100+ units) in DFW? 

Rates on a DSCR are in the high 6s if you have a good credit score and experience.

We like self-storage because even if there is a recession, and people downsize, those people will have a need for self-storage, as evidenced by storage occupancy rates during past recessions.

*Two-wire ungrounded systems with two-prong receptacle acceptable *Two-wire ungrounded system with three-prong receptacle unacceptable unless supplied through GFCIBased on that, the 3-prong outlets you put in wouldn't pass if they test them.If you're interested, here's a list of the top 10 most commonly failed inspection items (in order from highest to lowest failure rate) from one county Housing Authority:1.

I am hoping that this, combined with the expected rate cuts, will make it easier to find good LTRs next year.

All other factors (applicable documentation, terms/interest rates, title, requirements) seem to usually be about the same.

I'm running into hangups with code section R302.3.1 which seemingly requires not only the floor separating the units to be fire rated but all the walls below supporting that floor to be fire rated (ie all exterior walls and load bearing interior walls on the first floor), which may mean extremely expensive fire rated windows at the lower unit.  

I have been hesitant to do this only because my interest rate is 4.5% now.

It is important to make sure she is on board, so your relationship doesn't meet hardship.