In others experience is this return worth the risk given Multi-family environment ie supply, interest rates, project specific risks, illiquidity risk, and more specifically the Preferred Equity subordinated tranche risk (this sounds like just a Mezzanine loan without recourse).

However, this time, with stronger financial backing, the family is hoping to regain control and potentially monetize their 350 locations, including the flagship Seattle store and Nordstrom Rack outlets.The outcome remains uncertain, but this bold move could shape Nordstrom’s future in a challenging retail environment.

This structure explains why institutional players dominate - they likely have the capital, connections, and infrastructure to operate effectively in such an environment.

When speaking with a lender, let them know what you have planned for the next 3-5 years with respect to RE investing.

Its not, Its ALL about price, think about it :)  Respectfully disagree if your doing fix and flip to resell to homeowners its critical for rental purposes other than low End section 8 its also important.. renters want good schools also.. buyers its paramount.. 

I don't know if this is one of the new things or not, but this is now in there under 3.7.7, "You also acknowledge and agree that we may on occasion offer discount pricing for your Property; provided that (i) any such offers will be available with respect to a broad number of Listings and not limited to your Property; (ii) we will provide you with electronic notice of such discount(s); and (iii) you may opt out of a particular offer."

@Franck Armand, I'm not sure who informed you, but those respective markets are all well past the gentrification phase.

But although they are available, you are better off reducing the PPP in a declining rate environment.

This couldn't be more of a true statement with the current clients I'm dealing with.. on one spectrum, I have clients that are incredibly respectful take my recommendations and listen and on the other I have people who are just plain rude and are a pain to work with. 

Appears this may be a C/D property problem disguised as a TP issue.The point of my raising the fact that I replace anything that is broken is to suggest that I’m not a slumlord…I do take pride in what I do and I respect and try to keep up with any repairs in a timely manner.