Also title to figure out if the land can even be used for a particular purpose.But to answer your question regarding value, a decent metric is the current tax assessed value of the parcel:https://sdat.dat.maryland.gov/RealProperty/Pages/default.asp...Or you could pay for a broker price opinion..

I would figure 6 months carry cost (cost to carry the property while it is vacant).

Eventually I figured out that if I sunk all of my cash into properties, I wouldn't be able to buy any more for a long time and starting using some leverage.

I figure stability of the platform is important and so it seems like Buildium is the runner up, but if anyone has strong opinions here I'd love to hear them.If you've made it this far, thank you so much for reading!

If that's not the monthly income, you are arriving at your cap rate by using incorrect expense ratios/expense figures and/or the property benefits from an extremely favorable tax abatement which skews the operating costs.

The depreciating asset is already factored into my investment strategy.It will take me a little while to save up enough money to get something, so I have some time to figure out what I want to do.

I know they won't say what the client's Coverage D policy states, but I'm sure with the right kinds of questions you could get enough info to figure out how much they might go up to.

I think you need to figure out what your goals are before jumping into something.For example, you are saying to cold call, but who are you going to call?

If there are barriers that limit similar supply and you figure out how to get the housing units online, even better. 

I like your view point that there isn't a right way to do business, that each needs to figure there own way.