I agree with you that SFRs are mostly a way to play with appreciation as whatever cash flow we think we’re getting is really not enough with all the sub-standard appliances and mechanicals that’s get put in the homes these days!

The listing brokerage would then market the listing internally with the intention of finding a buyer.

If you're getting a standard multi family loan requiring 25% down, and you're borrowing that 25%, then you're financing 100% and there is no equity. 

After that, you have to get standard investment loans.

It typically all comes out to less than $40/sf for level 1 granite with undermount 60/40 sink, standard edge, and back splash installed.

What is the standard out there?

I notice a lot of property managers in my area (Philadelphia) use the standard form lease approved by the PA Association of Realtors (PAR).

Paying anytime 1st through the 5th is pretty standard around the country.

After, standard expenses net income would be $120k.

We thought we had a fair offer, and were not willing to move away for our fiduciary standards in order to get a property under contract.