Thank you for pointing that out. 

I know this post is getting a bit old, have you had your first inspection yet? 

Are you thinking this new cycle of higher rates is at its peak and we are going to head back to the 3%-4% range?

The square footage however is not that big but enough for the tenants to spread out.  

What made you interested in investing in this type of deal?

Avoid lenders that want to escrow your payments at closing, this increases your cash to close drastically and, in my opinion, is not the best structure even for new investors.

Why not be the Guinea pig and test it out for us and let us know how it goes. 

Hope this helps!

Paperwork to be signed is mailed back and forth and we only do our own lease as a formality and an extra chance to go in and check out the apartment to see if we need to fix something.

You may have seen my other posts in here related to a small mobile home park with 1 ranch home and 5 mobile homes.I have been waiting on the information regarding the septic design of this property for months.