The quality of tenants also seem to be much lower even in the nice areas compared to what I see here (and most of my stuff are small condos in Lowell, so not exactly a "luxury" market here).

I would probably do a walk through and see what you thought it would take to bring the apartment up to standards on move-out and perhaps negotiate the SD issue or a transfer fee as you suggested.

You can even watch someone input data in real-time, which is great for quality control.

The standard formula for max purchase price is 70% of ARV minus Repairs.

He was saying $95 to $110 per sq foot would be the low-end of the spectrum, but almost certainly enough to replace the no frills rentals we own.Are there standard numbers out there?

I believe 75% of LTV is standard for banks.

I understand that I should not make it a standard practice to re-imburse tenants.

From the finance side, pretty good, no, don't agree to a no pre-payment penalty over the term, a few years could be fine with that rate at that LTV.Have your attorney look over it, standard note and deed of trust, nothing screwy. :)PS.

Well, cheap by NOLA standards anyway.

I try to get as much info as I can about the owner so I can determine the level of care and the quality of services he implemented.