Mom and pop tenants tend to be more sensitive to higher cams per foot than regional to national tenants BUT the regional and national tenants tend to be more picky on location.

Also, if there's nothing tying you down, moving to another region has never been better.

Small local or regional banks are recommended.

@Wes Love Local and regional commercial banks are great for these types of deal especially if you do not have multifamily experience but they will be full recourse. 

In a nutshell, I’m interested in single family rentals in our region to start my REI journey.  

Not knowing the age and location of the units, I'd probably do 8-10% for repairs, insurance varies so much by region, I couldn't give you a ballpark without knowing where this is.

I know it varies based on the company and region but I’m a bit confused.

Wonder what other regional names there are to describe this phenomena

Daly with Regions Mortgage in Indianapolis has 100% financing with no monthly interest - if the seller is willing to cover closing costs and prepaids, then you can typically purchase for very little down, minimum of $500, should you have a credit score of 680 or more.If you'd like her direct information - feel free to send me a message - she's a great contact to have even if you don't pursue a loan through her directly.Good luck!

Maybe it's a regional thing.