I wonder how people underwrite when interest rates are close to 6% while cap rates are still barely over 5%.My common sense tells me that buying for cash is the most feasible option at this point but I am yet to see a sponsor doing that. 

Sounds like you may be able to barely cover the mortgage for a year if you moved out, after that you will be cash flowing.

Therefore, those that are in distress get so much marketing material along with having a supercomputer in their bare hands.

Since 99% of what we bought was bare land maybe those owners did not have these other liens. 

Lender, since you have such a unicorn loan that has a low rate and low down payment with a long amortization with very few questions asked on a pretty good sized loan, keep your fees to a bare minimum because I know how you lenders like to juice borrowers on commercial venues that have limited uses. 

A bare bones minimum transaction of this size w/no realtors will cost you 1.5-3% in fees (up to $11k), add in an additional 3% for realtor on selling side($11k), now your under a $10k profit (assuming you have no carrying costs, repairs/upgrades, mortgage payments, utilities...etc****DON"T ASSUME THAT!)

You also need to make sure that your comps aren't subsidized properties, or some other form of rent control that isn't really what the market would bare otherwise. 

This means - unlike Bill or Joe - they bought property with 80% - 100% financing and the rent payment barely covered the mortgage, taxes, and insurance.

Some are cabinet makers, some are barely qualified to hold a shovel.

My method requires a one-page addendum that says Tenants C and D are leaving, any portion of the deposit owed to them shall be paid by Tenants A and B, and that Tenants A and B are extending the lease for an additional 12-month period.It all depends on what your state allows.