Some may be ok with properties like this as the comparison would be that the fees cover roof, common grounds, exterior insurance but regardless, I look at it as eating away any kind of return.As others stated, you would do well to get the documents and P&L if you can to see just where the money is being spent and what they cover.Good Luck!

I will agree it may have not been the best comparison.

Contemporary7.Initially,sales associates should hold open houses in neighborhoods where theyA. know the marketB. have never livedC. do not know the school systemD. do all of the above8.A detailed schedule that shows the seller everything you will do to market the property is called a :A. property profileB. property marketing planC. sales comparison approachD. time management plan9.what is necessary for salespeople in order to thrive in today's ultra-competitive market?

The same goes for rent but without unit mix, try using $/sqft as a basis for comparison.

The best and most accurate way to value a property is by direct sales comparison. 

In comparison to the used car sale market Carmax is highly ethical.

Based on all the information I've pulled appraisers will typically use a sales comparison or an income approach. 

The amount the buyer paid for the income it produced (CAP) can be a useful comparison - provided the net income and CAP is calculated using the same methodology in all properties being compared.Smaller, 2-4 unit buildings, are residential properties, not truely multi-unit, and are valued using comparable sales.

Denver is booming with apartment development, so there is a close comparison, and most of the projects recently completed or under development are 100's+ of units, not 24.  

Even then, it needs to be calculated using the same methodology in each instance to provide an apples to apples comparison.