Most times the properties are in decent condition, and of course the bank wants as close to FMV as possible.  

I am 65 years old, in excellent health ( go to YMCA 3 days a week walk 3 miles almost every day).

afterall who knows more about the performance, condition and track record of a property than the PM. who has been managing it the past several years??

Generally you they have a topic with a speaker or panel (economy, current conditions, out of state buying, private money, etc) and the agenda is something like 6-7 networking, 7-8 speaker, 8-9 networking. 

Rent increase about 5-8% per year, depending on market condition.

What I dont want to have to do is jump through some local government hoops on inspection, rental amount, lease conditions and evictions.

they know they're getting a deal and will stay a long, long time...I'm sure there are some PMs that care more than others, but I'd just be another account.My rents are very fair, my tenants are long term, we address each other by our first names, they know where I live.I've got to believe my turn over would be much higher with a PM, and my building's condition would go downhill.If I could no longer care for my properties, I'd sell and increase my financial holdings.Respectfully,Arnie

The lender, a dear friend has some health issues, and I wish to repay by refinancing.

This gave us a good idea as to the condition of the home.

Depending on the condition and location you can easily bring the 1600 you mention.