clicking the box on a deal your doing just establishes agency for that transaction.I call BS on that explanation @Charlie MacPherson  see above Charlie you agree

Would like some explanation on that.

Maybe I'm reading too much into the details at this point but thank you for the explanation. 

Or point me to an online resource that provides an explanation?

However, we were met with a hard no from the local bank without an explanation behind it. 

I hope that provides a clearer explanation as to why it may be difficult to try to make a park out there, but who knows as every city/county decision maker is different. 

However, while I've spent the time educating myself, there's one topic that still confuses me, and I was hoping the BP community could provide a comprehensive explanation.

I would prefer this type of detail and explanation over a few sentences or a few word response though. 

Thanks for the explanation Stone,The cost of a roof isn't the same (Due to the property most likely being much bigger/newer) and neither will be many other fixes IMO so the capex isn't the same.My belief has always been the same and that is that a cap rate is a "cap rate" no matter if the rent is $700, $1,700 or $17,000.I always underestimate income and overestimate expenses.If the numbers look good with that added buffer, then the investment might be worth pursing further.Just my opinion.Much success

Here's the graph, with explanations and assumptions below (for the personal finance geeks):REI Total Return - 3 years:Cash Flow: $25KDebt Paydown: $26KForced Appreciation: $50KMarket Appreciation: $30KTOTAL Return: $131K return divided by $215K principle = 61%SPY Modeled Return - 3 years:TOTAL Return: $38K return divided by $215K principle = 17.6%Definitions:Principle - defined as the total money left in the deal.