You might as well make an annoying situation work to your benefit!

If that is the case, perhaps the answer is to build better systems and better relationships (or more of them) so that you can increase your local deal flow.Flipping out of state without an actual partner with boots on the ground is a very tough challenge and only for the very experienced investors who can handle and adjust to the problems they WILL face.

Bryan, I heard one of the benefits to banks with these refi's was that they wouldn't count toward their default numbers, so actually better to refi them and get them off the lists.

That would be individual benefit to the homeowner and forced loss on the lender.

I've been told that an LLC is the way to go, so that we can protect ourselves as individuals if something happens in the rental(s), and also to get the best tax benefits.

Unions killed the golden goose by pushing for pension and benefit packages that were unsustainable and weak politicians gave in when their coffers were full.

Aside from the more lenient standards and lower interest rate, what could be some additional benefits of an FHA mortgage?

There are no guarantees for renewals, you might ask about a longer term on an adjustable rate (there are no long term fixed rates at that loan amount that I know of as the lender needs a repricing opportunity).Good luck.....

Small apartment complexes may benefit some, but I guess it remains to be seen how things play out with the rules.

Look to the types of loans made, 5 and 7 year fixed that roll over to adjustable, those may not adjust until 2015, so it could be too that the upturn is simply the slowing of some loan product maturing.