I don't like FUD.Obstacles exist to be overcome.

I don't necessarily think the interest rates is too high since the seller is willing to do terms, but like Joshua D. stated, I don't see how the numbers would work based on the existing mortgage.Maybe someone else will chime in and have a better solution for you, otherwise might want to move on.

The reality is the big players will have a strong deal flow and will come up with deals they can't take into their existing pipeline.  

As others pointed out, the falling shingles can be an issue when removing the existing roof but it really should be minimal to the inside.  

Do flat fee property managers exist (I understand I would pay additional for large maintenance if the cost is above X)?

Do flat fee property managers exist (I understand I would pay additional for large maintenance if the cost is above X)?

If not, can they be sold subject 2 while keeping the existing blanket loan in place?

Both tear downs and adding Sq. ft. on too the existing structures.

@Christian Bors I like the idea of snowballing the cash-flow giving me the option of using that cash-flow elsewhere or accelerating the pay down of the existing mortgages (although i am getting quoted 3.875 on a 30 yr fixed now) thus money is still cheap.

They may be more open to being a little more creative or offering better terms on a cash out re-fi on your existing portfolio, particularly if you are willing to move all of your business over to them.