They can also close quickly, may be a better value with lower fees and interest, and potentially more flexible on terms than hard money. 

Pretty clean and documented transaction there.

Have you looked at refinancing to lower your mortgage payments? 

And you need at least 20% equity as conventional loans are usually 80% LTV.The benefits are getting a lower interest rate, at least with the rates we have right not, and getting rid of Private Mortgage Insurance, PMI, which is about $220 a month for me.

I also think the rents are a bit lower than they could be.

I can give you several good baltimore attorneys that can write up loan docs for you if it is a commercial transaction.

Probably best to find cash investors (for a lower interest rate than if they're already up for interest before lending to you for higher interest)?

So you will begin your learning curve already situated into either (a) a riskier asset than other more experienced folks might find (b) with lower valued collateral which will typically cost more money to disposition (c) being taken advantage of your lack of knowledge in the asset class overall. 

In general, in tough times concessions occur more at the higher end places and well run lower end (low amenities) places can actually benefit.

Some of my friends like having 100 agents at a firm even though just a few will close something and basically be a babysitter for 80k to 100k profit a year because they do not want to sell anymore.I love the art of the deal so love transacting.