Yes, I definitely understand arbitrage and I understand that most people can deduct student loan interest (assuming they itemize their deductions; however most people don't since the standard deduction is usually higher).  

Typically it is much less than say a standard triplex.

Congratulations, shows that pretty standard strategies still work very well and you don't need to hop on the latest creative or newfangled strategies to get huge success RE investing

The market standard for a cash-out is 75% LTV.

Renovation loans (for 1-4 unit investment properties and some standard commercial properties), 4.

My financing has all been standard 25% down commercial loans to my LLC 

The higher your screening standards, the better potential tenants you'll attract, even when HH. 

PMC's also typically take a more pragmatic approach to maintenace.Here's our standard advice about finding a PMC:In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

I believe there should be minimum standards for landlords, maybe there are but because the tenants are"bottom feeder" no one cares.

Either way, I also discuss with the Owner at this time what the market suggests the new asking rent should be, and confirm his strategy for the foreseeable future regarding hold, sell, or whatever in order to (hopefully) not spring any surprises on new tenants.Owners are welcome to provide us with contact info for their preferred vendors, but we let them know that standards must be met with regard to timeliness of repairs, interaction with tenants, and, if we will be paying the invoice out of their income, they will need to be properly licensed and insured.