You would be shocked at how efficient we are at this.. 

I can't say I was shocked.

@Sam Leon UPDATE** Spoke to a tenant about the $30 fee.. let's just say he was SHOCKED (how my PM described situation)I don't want to lose this tenant either.

I am continually shocked when I am listening to how low the purchase prices are that I am reading about - single family units under $50K, duplexes under $100K.

Though the motivation to minimize interest costs is not as great (given they are deductible against income for an investment), we still go with a variable rate mortgage (or LoC), but insulate ourselves against interest rate shock by structuring our operations around the debt service requirements of a 5-year fixed-rate mortgage.  

I am a little shocked, never thought would have to deal this this problem...

If you've been using private lending, you may be in for a bit of a shock at how severe the bank underwriting process is these days, regarding: year of experience they'll want, cash reserves, haircuts to your rental income (for prop mgmt, for example, even if you self manage, plus capital reserves, etc., definitely don't plan on more than 50% of gross rent qualifying as net rental income), global credit limitation -- and eventual cutoff -- on you as a borrower, more discomfort on their part as you amass more units, etc.

After some preliminary discussion about the amenities in the unit, he wants to set up an appointment, and part of our conversation continued as follows:Me: I have income requirements for my units, do you mind telling me what you do for work?

Telling them on the phone is great to know - I would be in shock too if I learned I would be receiving 15K or so less than I had planned on.

I'd be utterly shocked to see that.