They should document the condition heavily before moving tenants in.

the location was great, condition was good and numbers worked close to 1%, and I needed to find a place for 1031 exchange How did you find this deal and how did you negotiate it?

The building is in great condition with a new roof and is professionally managed.

I understand that state tax and regulatory conditions can vary quite a bit. 

Our local market is still very competitive if in good condition, good location and priced right.

That’s not where we are now, and capital stacks need to be designed for current conditions.

Stick to buying good properties in good areas that are in good condition.  

I typically talk less about the market conditions until we have a general plan in place, and then we discover what may work best with the current climate (rates, fear, opportunity, demand, etc..)

Real estate is tangible and given market conditions, your specific area is poised for a significant amount of growth in the future.

In similar situations, it may be worth considering renting first and selling later when market conditions are more favorable.Finally, the importance of choosing the right agent is a valuable lesson.