In banking, the only exceptions I've seen is after a company surpasses a certain level of gross sales (typically $10M/yr). 

Historically, our down cycles have NEVER surpassed the % appreciation of an up cycle, so depending on your end game, you should always make money if you hold the property long enough.

Even after reading it a billion times it made me understand nothing can surpass experience. 

I know our neighbor to the North has seen their dollar surpass ours, yet 8 years ago I was RVing through Canada and playing spectacular golf course for exchage in the $.60 range per our dollar.

Lastly, are you pricing it at a point that surpasses the 2006 purchase price, or are you truly pricing it at the market price?

These taxes can surpass some HOA fees!  

General rule of thumb (personal opinion) As you near a 2% deal or surpass, your risk with increase, and your "location" will tend decline.

Now at age 29, I can officially announce that my goal of becoming a millionaire in net worth has been surpassed with our latest acquisitions :)!!!

Ultimately, stock investing simply can’t surpass multifamily investments when it comes to cash flow.

I would also recommend pushing the effective rent date out as far as possible, and put it together without any damages to you should you surpass the availability date, if at all possible.