Also, amenities and condition of updating affect rent more than square footage, in my experience (as you stated, a luxury 1 bedroom might rent for more than a 3 bedroom of the same size, but then you're not comparing apples to apples - if you compare a 1 bed and a 3 bed in the same neighborhood with the same amenities and interior condition and square footage, the 3 bed will command a higher rent). 

Compare A and B without points (apples to apples so to speak)A: 3.875% and $1076B: 3.975% and $3087.50Assuming these expenses are correct then you can see your answer right there.

There are a multitude of variables and even if you are comparing (what you think) is apples to apples; it's likely not going to be the same rate if you are in one state and the other property  you are comparing it to is in another state.

Replacing is as easy as (a)heating with a blow dryer, (b) lift the old tile off, (c) stick the new tile down... gotta love it 8) 4.

[i]RESPONSE: Again, you are comparing apples and oranges but...The front end mortgage insurance can be financed and or gifted/granted/conceded (seller concession).

Hey I'm in Chicago area now but from apple Valley and want to start investing there too.

My technical career started with HP and then I moved on to NeXT (today's Apple).

Sorry to hear your iPhone investment is "underwater" ;)but welcome aboard BP, where we use a rising tide of knowledge to lift all boats

We are working with Community LIFT here in Memphis and one of their three zones is at the northern edge of 38109, but as a general rule of thumb - when we are reselling to another investor and retaining the management - we really don't do 38109.

Capitalization rates for SFRs are almost always lower than apartments doing an apples-to-apples comparison.