Assume the decision makers will be looking for a showing of competency in process and fair economics.Ultimately sounds like something to pursue.The second situation where the bank is not interested in selling the loan.  

If that is the wrong decision please let me know.That's about all I have to say about myself.

You'll need to make those decisions yourself on strategy, it'll depend a LOT on your market.

It sounds like we made the same initial decision/mistake.

I wonder how much of this is poor thinking?

RBC's decision to treat 5&6 unit properties under 500K as residential grabbed a new market slice for them and has other banks looking to follow suit.

We do update if it is extremely old/poor looking but as long as it is average we will just deep clean it and leave it.Vacancy is almost never an issue since the area is highly desired, close to highway, shopping so we typically rent at market rent or sometimes 50$ below if they are willing to sign a multiple year lease.

If the seller just placed some random tenants in order to have the place occupied for the sale, or if the tenants are bad tenants with a poor payment history or in need of eviction it would subtract value.

Meanwhile my BIL in AZ ( a retired M.D. ) in poor health has already established offshore accommodation with great medical & pharma coverage..

it is sometimes called a poor man's will in my business.