Demand is greater than supply.

Do you supply tenants with air filters?

While you can supply important information to the appraiser, such as recent improvements or distinguishing features, they must ultimately provide an impartial market valuation.

Exterior/Interior Paint, fixtures, etc.These buildings were constructed in the 1960s with steel pipes and much of the plumbing has been replaced as needed including new supply lines in the ground and new sewer pipes under the slabs.Ongoing maintenance costs have been pretty consistently high on this project, but the rise in rent over the holding time has been a saving grace.

Make sure to look into supply, insurance, taxes, etc. if you invest there.

Are your properties in a place where the demand is low and supply is high? 

*Unlikely Appreciation given Investors finding new, better undiscovered markets and figuring out how to self-manage + all the new construction supply + lower long-term demand dynamics.

If you have any insights to share on MTR supply vs demand or demand seasonality near these hospitals/areas, I would appreciate it.

Your ineptitude may amplify your losses:(You're also jumping to assumptions.We've had out-of-the-county investors that we could NOT legally send funds to because they hadn't supplied us with the IRS required documents - and they didn't respond to our numerous communications to get them.Once we obtained the proper documents, we sent them their funds - by the way, we did send monthly Owner Statements, so they had the info to see what was going on with their portfolio.So, that brings up another question - what information have they been sending you and when have they been communicating?

I always recommend investing in areas with strong underlying fundamentals: jobs, limited housing supply, desirability/ high demand, population growth/ net in-migration, affordability, etc.