Unfortunately, the expenses are still variable and are always unexpected is such properties - the price of a roof, hot water heater, or air-conditioning compressor replacement will be about the same, regardless of market size.   

My medical condition really kind of made get into this site originally looking for something to do that is flexible.This gives me the opportunity to tell Maria to be cautious of things that are told on the Internet and many of them do emotional sales.  

With that being said, Multi-family investments should be a little higher, depending on the condition and current management of the property.

A sub-2 should only be done on a short term with the buyer having the ability to purchase, you can   go out  to 18 months, that gives yo time to  refi under favorable underwriting conditions,  after 1 year.

Second, with a 100+ year old property, you'd better factor it in, and 2% may even be light depending on the condition of the building at present.

I have concerns that the market may be peaking and reaching a point where values will begin to decline. What sort of strategies might be of good use in a declining market? I have thought I could buy and hold until val...

To get your deposit back, I suggest showing your move in report with your own pictures as evidence of the condition of the unit.

This can begin with an informal process where they will actually visit the property so they can complete a more accurate appraisal and often results in a reduction if there were issues with condition, functionality, or external factors they had not considered originally.

If you mean the mortgage underwrite, it needs to be a complete and functional home with no apparent health or safety issues.The bathrooms can be old, nasty, and gross, but they must be complete and functional. 

I received a conditional approval.