It's the only way, in terms of the Uniform Standards of Professional Appraisal Practice.

So my understanding is correct:The figure represents how productive the property is relative to its value.The three figures (NOI, value and CR) seem to flow in a circleRental demand drives rent priceThe expected income stream from that will determine what investors will pay for a propertyIf these two factors are fairly uniform in a given market, would cap rates vary that much?

See Uniform Capitalization Rules earlier.

On the plus side, having uniform apartments, I know that I'll always have need for more light bulbs! 

Don't let people's opinions (uniformed utterances) cause inaction on your part...

Meaning if there is only 5 reviews but it says the comp made 200k.. well that might be telling airdna pulled bad data and you cant use that comp. 2) Next is you can check the calendar of the comps it pulls and see if its random blocked days or if there is any uniformity.

Depending on which state you live in, you may need a real estate license if you get paid to do any of the following activities: Advertise the availability of rental propertyPrepare or discuss a property management agreement with an ownerNegotiate leases or lease termsShow a rental propertyDrive or accompany a potential renter to a rental propertyCollect rentsAs always, there are exceptions to these rules - individual states regulate real estate activities, and they are not uniform in their treatment of property management.

Check and see if there is a model code in your locality.Having a report from code enforcement will help with the paper trail in court.I also encourage you to read through the Uniform Residential Landlord and Tenant Act (URLTA) of 1972.

(or refinish all cabinets, to uniform color, after dishwasher whole is filled in with new cabinets)Or leave the dishwasher hole open, and invite tenant to supply their own?

The full text of the NM Uniform Owner-Tenant Relations Act can be found in chapter 47 here: http://www.rld.state.nm.us/uploads/files/Final_NM_Real_Est_14-15E.pdfThe UNM Judicial Education Center may be helpful too: http://jec.unm.edu/education/online-training/landlord-tenant-relations-tutorial/introduction