I am shocked that I can pick these up at 40k in pretty descent shape and rent for $950-1050.

Again, I don't know your local market but I would be shocked if there is nothing in your market that is totally destroyed (meaning copper stripped, walls missing, etc. like mine was) that could not be purchased and fully rehabbed for cheap enough that 20k would not cover 3.5% down payment.  

I can't tell you how many loan originators I've worked with that would shock me if they could point out which thing on their desk was a mouse and which a keyboard.If you provided all of the pertinent information and the lender knows what they are doing, they should be able to tell you up front that your max LTV is going to be 75%...sadly that's not how the industry works.

You’d be shocked by how little actual screening many PMC’s do!

I was shocked how quickly I found the property..

The reason I think newbies should get lending lined up ahead of time though is because I've encountered too many newbies who are shocked at just what it takes to get a loan.

The initial shock has worn off a bit and I’m less angry than I was.

I was shocked, but took the check anyway. :0)Looking forward to connecting if you attend the meet-up tonight. 

It would great to find a resource that lays out where projected economic shocks will hit each city and possibly a format that presents where rents are expected to appreciate the least/most.

I also was shocked by this.Each unit is separate meters.