Also finding a way to fund a deal to actually present FIRST sounds better then approaching them with a bunch of hypotheticals and "what ifs".I also agree about the funding.

Sales/market, cost and the income approach. 

However, as you mentioned, appreciation is tied to external factors, making it less predictable in some markets.Greater Toledo Market:When looking at the Toledo area, there are certain neighborhoods where appreciation potential may outweigh cash flow, but it requires a strategic approach.

This approach protects the investor’s capital and allows the project to continue operating and eventually regain value.3.

I'm guessing that it will be something like 10% to 20% but definitely not 40%.The one caveat on this is that for bigger buildings, the assessment is based on income approach, not market approach so they may not be getting assessed as high as the market approach. 

I was leaning towards the honesty is the best policy, not least becasue it is the much more simpler approach and potential tenants don't feel like they are getting scammed or I have something to hide.I will definitely be doing the Google voice number during the leasing process. 

I suggest that you first identify your goals and decide on the approach you want to take.

Once you have one half you can approach the owner of the other. 

Is this a reasonable approach or is there a better one out there?

My initial thought was looking into the best approach (if any) with this lender to get one of these two specs at a discount which would get one of them off their books.