It cash flows well, but I refinanced to pull the money back out, there won't be much of cash flow cushion left if I need to lower the rent at some point in the future.

Also, since they are separate apartments, you may offer to pay all cash now for the smallest one to get a longer term, no down, and lower rate on others.

I go to Vegas at least 2 or 3 times a year and get similar rates or even lower at 4 star resorts on the strip, not off strip like the Palms.

In other words to me it seems there is a conflict of interest for the same bank to refi me as in the end if done correctly I should no longer have PMI and a lower payment both of which is less money for the bank.

Should we lower our standards more? 

The appraisal came back at 20k lower than the purchase price.

The appraisal came back at 20k lower than the purchase price.

Investors can access and participate in several projects, which considerably lowers the investment risks.

I'd recommend lowering the price, maybe $50-$100/per month, and getting more qualified applicants.

But if the building has just been rehabbed, expenses should be lower, if its older and neglected then expenses are higher.Why are you waiting until next year?