We are looking to step up into Apartment Buildings versus the SFH and 1-4 Unit properties we are doing.The property in question is between 1.1-1.4M. 

I'm guessing you are thinking of a buy and hold versus a flip .

Taking a $10k hit versus a couple grand in holding costs is a big spread.

The mistake on my part is that I did not outline any of this in my lease or cover water use versus abuse in their orientation...

Hi @Jun Zao - When it comes to dealing with residential versus commercial mortgages there's a few key differences.1)  Some residential mortgage programs allow for different criteria based on owner occupancy. 

I don't look for "secrets" but look at different ideas to see if there are ways to work smarter versus harder.

I use ClearNow, an online payment service like Cozy.The difference between Cozy and ClearNow versus Zelle and Venmo is ClearNow deducts the rent from the tenant account on the first of the month.

If you sent me a reduced offer based on previous unpermitted work, I'd just laugh while I review the other six offers on my property.I'd wager that over 70% of garage conversions weren't done with permits.

Typically on syndicate properties there is already stabilized ( lower returns ), value add ( higher returns), totally vacant or ground up development ( highest returns).In terms of risk versus return the stabilized is generally the least risky, followed by value add, followed by totally vacant or ground up development.An exception to that is experience of the sponsor that is the syndicator.You could have a safer asset going in but a bad sponsor runs it into the ground versus an experienced sponsor turning around successfully a difficult property.

I know real worth versus seller's worth can be a very large spread.