Why would they try to command such a high price, if it is over half empty?

. -- he's a loud talker, commands attention, and probably has the most and deepest personal connections throughout the community (I'll add, he has admittedly done a LOT of work himself in helping to maintain the community, we are in debt to him for that -- he just doesn't appreciate the seriousness of long term financial issues, and now he's on his way out).One more kicker -- the third member of our Board, the Secretary, just resigned for family & health reasons, so it's only me and the president for the near future.Does anyone out there have advice? 

That being said, they do exist but are moving at prices unwarranted by the rents they can command.

Given the extreme supply shortage, I understand property can command those prices - but for a buy-and-hold scenario, does it make sense to invest during what looks like an unsustainable price surge?

I used conservative expenses and $3200 per month rent which that property may not command.

There are a good amount of properties that can be picked up for $50-75K and, based on comps, seem to have decent ARVs, and can command decent rent prices for buy and hold investors.

His dependent child's legal guardian can too.If he already has a specific date within 12 months, in writing from his chain of command, for when his unit will get back and he will be at ABC location near the home, that can in theory work.

It's 6, 1 bedroom units commanding an average rent of $525/unit (below market). 

After 6 years, you will have a 6-year old rehabbed apartment...it will no longer be able to command "premium" rents over its competitors.

I was defaulting to "no points" for years and then asking the borrower for their thoughts (because there is no one size fits all), now I'm defaulting to the above and asking the borrower for their thoughts (because there is still no one size fits all -- maybe that $3000 in points will lower their P&I by $45/month, but using that same $3,000 to improve a kitchen will let the unit command $75/month more in rent).