Focus on things that ARE knowable like, do the numbers work, am I being realistic with the rental income forecast post renovation, am I budgeting for the 2nd "R" to go over budget, and is this a desirable property in a decent neighborhood.  

@Marisa R.

@Rachelle R. 

@Raul R. is of course correct.Fundamentally,Value = NOI divided by Market Cap RateNOI = Revenue minus ExpensesApartments are valued accordingly

R,Milton

@Shashank R. to be clear the 255k figure was part of my original pre-rehab appraisal.

I just had a 700 sq ft house brought from R-9 to R-39 for $525, and the utility company sent me a rebate check for 30% of that cost. 

Not enough to fully demonstrate your intent maybe but income in two consecutive years isn't something to sneeze at = if you've been renting. 

Time for Plan B...BRRR(R)!

@Marisa R.