The property is a perfect high end rental that I will likely still own when  I die (I'm 35 so let's hope that's a while).

;) MFR purchases are really popular right now and perfect for buy and hold.

Of course use this method if you can't seem to find the "perfect tenant" to rent the property.

I have been looking for apartments below 150 and from all of them found the below deal the best option but wanted feedback from the BP community.Here are the deal details :Purchase Price: $129,900 Bedrooms: 2Baths: 1 full, 1 halfBuilt in 1974HOA Fee: $228/moCooling: CentralHeating: Forced airLast sold: Mar 2016 for $105,000Taxes (2015): $1341/yrMaintenance incl: Water, Insurance, Trash and sewerFEATURESBasketball Court, Doorman, Elevator, Flooring: Tile, Garden, Patio, Pool, Porch, Tennis CourtDescription:The perfect investment property!

Action over perfection.

You might get away with it, but most likely not.

You want something, they want something, sounds like the perfect relationship to me.

My understanding is that the since a condition report is from the tenant, they lay out everything that is lacking, and thus it is assumed that everything is perfect minus what the tenant may have stated.  

This is where an experienced mortgage broker/lender could really come in handy for you as a partner because they'll know what the perfect loan is for the asset, because each asset is unique.

This answers my question perfectly.