There is no way to quantify the value and momentum created by purchasing your first deal.  

@Walmsley GedeonI am an aggressive investor but only with risks I can quantify (ie.

Attempting to provide the definitive answer that you were hoping for, including capex, tenant quality, rent increases, ect is just too intensive because nobody can predict the future that accurately over 30 years, or even quantify what a dollar amount that a higher quality tenant will save you ect. 

To add to @Mark Vejnar's comment, it is very difficult for an appraiser to qualify the level of improvements because they haven't necessarily done home inspections on the comparables.For example, how would an appraiser quantify a $5000 new sewer line?  

It may be a bit unfair to qualify a teacher by the quantified achievements of students.

This is typically measured within a spectrum because the floor can be easily quantifiable.

@Richard S Myers, maybe it would help to set goals that are lead measures, i.e. quantifiable or specific things you can be doing to move your your main goal forward.

If I fail and we go to a divestment of interest issue, then it is easy to quantify fees, I have an enhanced closing schedule I follow.As the perfect storm continues to brew in the Midwest and California, and we continue to see the peak of the reset dates grow closer and closer, it only makes sense that the banks would start footing the bill for Home Retention services.

Humans are always trying to quantify things.  

I think your conclusion in this specific situation was flawed, more than likely they did the same risk analysis, and came to a different conclusion than you, perhaps by entering the properties they were better able to quantify repair costs.