This conversion would allow the now 1 bedroom unit (converted from studio) to have private access from the exterior.

I'm of the opinion that we will keep on the 3% appreciation rate that we have for some time unless we get an influx of high paying jobs on a scale of the amazon headquarters thing. 

And if B&N is selling at 20-25% above Amazon, then does that mean that a 20-25% mark-up from one seller to another (like an investor purchasing and then reselling) isn't unreasonable? 

I wouldn't call it a great deal, but here are the metrics nonetheless:Purchase price: $435k reduced by seller credit of $15k for net $420kDown Payment: $15,225Monthly Rents: $1,025 1-bed + $995 1-bed + $675 studio (hasn't been raised in 15 years) + $650 (bedroom in my unit) = $3,345.  

The apartments had about 29% vacancy, but that is largely due to a studio in the basement that has not been leased since at least 2013 (no in unit bathroom, kitchenette only). 

I would gladly gut her apt. tenants don't understand if I start renov with her in it. her life will be uncomfortable.but now she complains neighbor got this and that..she still living with old amenities. and she pays the most rent. other unit is studio and 1 bed at 500 & 590.but those unit were vacant at one point in time and I renovated during the vacancy and push rents up.should I leave the unit as it is. she can't afford 900. and it coming towards winter. all together good tenant.my husband wants her out but we don't really have cause bc although she is behind. she took up 2 jobs to get almost current

Given the Amazon fulfillment center development, I would expect property values have increased and cap rates have decreased.

They had an alcove studio for sale a few months ago around 120k.  

For the studio.

I'm at the mercy of Amazon and Google, so I was hoping to invest that money into something more stable/tangible.