Typically buying them between $10K-$20K which means you would need to pick them up for less than that to make a profit.

Colored OB PEX should have a gloss coating to it which is the barrier. 

Thanks for the response as well Paul, my concerns are not necessarily around depreciation (I’m pretty sure that buildings are depreciated over 27.5 years opposed to 20 years) or other deductions that are typical to long term rentals but rather tax guidance that dictates what is a schedule E rental portfolio vs. a schedule C business similar to hotels.  

Typically big banks and credit unions are captive to a single PMI provider, mortgage brokerages and banks can shop it among mortgage insurance providers.

The typical downturns or even strong downturns you should have evidence of how your investment can hold up.1) In 2008, most consider a very strong correction, MF loan delinquency nationwide was 1% vs 4-5% for SFR2) In Houston, 2013 oil fell from $100 to $50 barrel. 

Who is typically the trustee conducting the sale?

Now if you are not being represented by anyone and locate the property yourself, typically the selling agent will have an owner agree to dual agency and the agent can represent both sides.

The typical cap rate seems just terrible.

Typically 3 ways you can close (from buyer perspective): 1) Go to Office depot and print out a warranty deed ($10 dollars i think).

My thinking for not sellling TH while occupied is that it isn't really an investment property and that the typical buyer would want to live in it.