Your Vacancy Reserves Amount is lower than I like to maintain.  

Even with lower rates, we are making a good return, but wonder where this will all go in years ahead with oversaturation and regulations.

I seem to have 1-2 people a week now reaching out to ask for PM advice in Milwaukee and thinking we need an additional market due to 1) pricing and 2) diversification.Fort Wayne IN still works for us but is getting pricy and with lower rents maintenance and eat into profits - Would like to start converting this properties to seller financed deals over the next few years.

These people didn’t want to buy, even though the payment with taxes and insurance was about $200 lower.  

It's also unlikely that they have done any updating and kept up on all the maintenance so a lower offer is more reasonable and you have a renovation opportunity.Come up with a list of services you can offer to make it easy for them to sell (as-is) and to move (clean-up service).

Newbies should consider the lower prices of vacation areas to buy their first multi-family.

It will be a challenge but it will help in the long wrong say 5 years from now if you stay the course Financially.In my case i worked few jobs and i knew i had to pay my debts off, im still paying them now, at one point when i was ready to pay but couldn't pay because my check wasn't a lot and company's wanted me to pay the whole bill off i couldn't do that, some people will run into that problem, if you got a cable bill that some cable provider wants you to pay off the whole bill you can do that all you have to do is save up into the next week depending on how you get paid at your job weekly bi-weekly.Again it's only one way to get your credit score up if its lower then in the 400s or lower, working and paying off the debts.

Cash flows well at this 4% rate and the refi rate of 5.5% amortizated over 25years.My bank has said they do 75% LTV on the purchase price or appraised value, whichever is lower.

Anything lower is probably more of a retail buy for a market-listed property...but it just dependsAgain, returns are all relative to your personality and preferences. 

I can get a lower mortgage rate if I plan to use it at least two weeks a year, which I will, and rent it out on a short-term basis the rest of the time.