This is the way a bank or any competent appraiser would value it, no other way by those groups ... you as an investor might value it based on income, and an insurance company may value it based on replacement value, but when it comes to buy, sell, or refinance transactions, the market value is determined by sold comps.I won't get into the details of commercial property valuation, because it apparently offends Master Swanny's delicate sensibilities, but will only say that it depends upon the NOI the property produces and the market CAP rate, which is determined by sold comparable commercial properties in the same market around the same time, and yes, market CAP rates do expand and compress based on market forces outside of the investor's control, so multifamily investors are not somehow immune to market forces or comps.

First of all, know that you have no recourse right now, since the courts are closed, so if you're getting your rent, play it delicately. 

Putting a "Beautiful Floor" in a rental garage is asking for trouble.If you use delicate type things (easily stainable or easily breakable) in a rental don't expect them to hold up.Cars park there--and cars make messes--leaky oil gaskets, radiator hose broken (rust deposits), rubber tire marks.Maybe you could call the product manufacturer and ask if there is a way to clean off normal car stains.Good Luck!

@Morgan GrangerThe granite fabricators also will install.

So the suspicion is that this woman works under the umbrella of her boyfriend (both self employed real estate agents) and the paperwork was likely fabricated.   

New ContactsBeing a real estate investor and Realtor can be a delicate balance.

Regarding rent increases, this is a delicate matter and dot expect to walk in ad push rent up right away.... 

It's a delicate balance and although I liked the museum, I found myself drawn to more of a for-profit direction where there is more financial 'freedom' to help other non-profits as well as operate in a business sense (in my personal life and professional life, I am very active in the non-profit world).

So the IRS can bump taxes collected by challenging REP status, which that other thread mentions is pretty easy for an auditor and a lot of work for an investor to have over whelming documentation that doesn't look "fabricated" on the spot after the fact.The point of this thread:   Last month a CPA gave a talk to our REIA and mentioned that claiming REP also increases your IRS scrutiny of whether you 1099 your contractors faithfully. 

The "upholstered headboards" are insulation board covered in fabric.