This has historically been a difficult property to rent, and it has been vacant for 2 months, with no other qualified applicants at this time.The applicants have 2 small "service dogs" with certificates from a random website. 

Historically, our rental prices and real estate prices tend to grow at a pretty consistent and steady 2.5-3.5% each year. 

I'd get a quote for how much it would cost to sub-meter the water and estimate how much money you will save (you should be able to get the historical water costs) to calculate an ROI.

Thanks,First, I find the historical performance data for the geography and asset type of the deal.

A few months ago, I posted an article on a flip that was in the beginning stages in a historic district of downtown Tucson: https://www.biggerpockets.com/forums/311/topics/55....

A little background... my partner purchased a quadplex on commercial c-3 zoning in historic neighborhood, Atlanta, GA using a residential loan.

The plan (his plan) was to take the upstairs of a large, beautiful, historic building and convert it to 4 dorm style units.  

., I’d say capex is the same.For future assumptions I am a fan of looking at historical averages and projecting out.

It is better to lock interest at historically low rate (4.7%) using government to back the lender than find your "private" bank failed his obligation leaving you with nothing.

Maybe if it's Mesta Park or Heritage Hills and the flipper just REALLY wants to get into historical flips.