For arms-length, closed transactions in Wake county, Zillow sales history and data is reasonable.

@Ernie PurnellYou might check out local grants or Neighborhood Stabilization Funds (NSF) monies may be available to you Find the local Affordable Housing office they can provide info to you.Go to IREM.org search for ARM certified property managers.

At 5+, it is considered commercial, and best financing is ARM starts (6%, and adjust up to 11% or 12%, as an example).

5% down 10 year arm loan with a rate buy down.

Was it safety related?

@Rosie SmallThat looks like a very expensive loan to me.I'd guess its a 10yr ARM or a 10yr I/O option.Very high rate for a 75LTV Cash out, even with today's rates.All those points in buy down... ouch... 

With difficult loan qualifications and ARMs being very rare on sf and 2-4 units over the last 10 years there is not going to be mass foreclosures.

However, you can talk to the Tenant about the safety concerns and ask permission to remove it.

Historically, that was a good goal, and for someone starting out should allow for a margin of safety. 

I have few scars, and one is on my arm from a pit mix.