The last paragraph of a New Jersey law from 1998ftp://www.njleg.state.nj.us/19981999/A1000/861_I1.PDF6 STATEMENT 27 28 This bill would prohibit a person from connecting a sump pump, 29 cellar drain, roof leader, or area drain to a sanitary sewer system. 30 Each entity owning a sanitary sewer system would be required to 31 adopt measures prohibiting such connections and would be 32 empowered to enter upon property to find a violation and to issue a 33 summons for up to $500.00 to a violator of the prohibition.

If there was one city that was "Best" for rental investments A. we would all be buying there B. it would change as the economy and commercial, neighborhood issues do.The old rule measure twice cut once, applies here.  

"More affordable" is a perceptual term, all depends where one is measuring the Twin Cities by.

In their mind they have good drive and work ethic but when it is measured against what is actually needed it falls way short in reality.    

And 36 Other Key Financial Measures: Gallinelli, Frank: 9780071422574: Amazon.com: Books

These lenders are able to do loans for people who are credit-worthy, but don't fit the system that the credit score was made to measure (i.e. the Dave Ramsey community and young people, ha)The BEST resource for you would be to talk to a local real estate ninja who can guide you to the right lenders for this. 

The first thing I would recommend understanding is that your measure standard for downpayments should be 15%.  

This is difficult to believe that at purchase, your cap rate (granted your units valuations are not measured in cap rates but in comparables but the math is the same as others pointed out) is so high unless you are buying D class units in D class areas or getting fantastic deals on C class units.Another observation, you acquired around 50 units in 4 years, a very commendable accomplishment I might add, yet, a desire to get to 500 would take another 30+ years at that rate.

(Our area always requires on-site) water detention)  The solar is very visible and adds some input (Would have to measure ROI)The park-and-leave the car plugged-in is relatively easy to fix.  

Look for contingency plans, risk diversification strategies, and proactive measures to protect investors' interests.