At the more experienced level its even more typical. 

An I believe your lender is referring to the fact that owner-occupied properties are viewed as lower risk for Banks' Underwriters thus the terms are more favorable.

You could also hire a VA for cheap to look up your addresses on the county website but I like PropertyRadar for the extra level of insight. 

Their mortgage is going up $600/month until the back taxes are paid (the mortgage will eventually level out at about $200 more/month than what they planned).

It can be harder to manage over an hour and a half away and even with the lower rents it takes a while to find good tenants because people there just don't make as much--and we don't allow dogs, which many people in the country have. 

Remember prices tend to be lower in the winter so start looking around October or so.

Your basis will be what you paid for it plus any improvements or the fair market value, whichever is lower at the time it was placed in service as a rental.

You can refi for a lower payment easier if you have a boatload of equity.

If we just accept a lower price on the property as a whole, I am worried that we will just be kicking the can down the road and not fixing very necessary repairs to the building that will bring down the property value of all of the units.

Here are the details: - 4 bedroom, 2 bath about 1700 sqft, built in 1883- Neighborhood: C I think, close-in 45503 if your familiar with the area- Duplex upper unit and a lower unit, each 2br 1ba - Current rent 300 upper and 400 lower (which is up from 200 and 250 in 2014), neighboring duplex gets 600 for a 3 bedroom but it's nicer- Expenses (prop management, lawn, bills, taxes... ) in 2016 so far $2200 and in 2015 $3200- Profit from 2015 was about $500 (had the upper vacant for most of the year), profit this year should be about $1,600- Appraiser $50,000 Zillow $58,000 Trulia $37,000 Estate $16,000- Bought in the 80's for $15,000Thoughts?