Another thing I noticed is that its population has decreased by about 8% since 2000. 

It could decrease one year, and go up the next.  

If on the other hand, you don't like your current job and want to use real estate as a way to decrease your regular job, then a) try finding another job you like, b) buy some properties to either flip or rent. 

If I bought a property for 40k, ( purchase and rehab), and my Noi is 8k, my cap rate is 20%
Question?  If property value increases to 120k after 5 years, and my Noi is the same 8k, does my cap rate drop to 6 %?  Is c...

Inventory in Austin dropped to an absolutely insane 0.9 months with a 29% decrease in active listings compared to the December prior.

According to Zillow and my own research in my area prices are stabilizing even decreasing a hair.  

Maybe tell her that the amount she will get paid will decrease each month until she has the right to sell the property? 

Here are the specs:6 unit brick multifamily Apt building-priced at 569,000- negotiated down from asking 600,0006-2bd/1bth apts currently does 4700 per mth-rent currently about 20% under market at the start of due diligence was 100% occupied-That is what I based my offer on building performing at 100%tenant just gave his 30 day notice -so before closing the building will have 1 vacancy performing at 84%The inspection also turned up 15k of safety violations I believe both are points of renegotiation-I'm just not sure how much is my question-I was going to ask for 15k of a closing concession to cover the safety issues-but how much is considered acceptable/reasonable to decrease the price for the vacancy?

Since you own more than 4 units it's a commercial property so increases in expenses/decreases in expenses will drive its value up.

If your strategy is different, then below will not work.I invest in apartment buildings where I can "force the appreciation" or add substantial value by increasing rents, decreasing expenses or preferably both.The problem for investing for the long term and focusing ONLY on cashflow is that the investor's money is stuck in the project a long time.And of course, the problem for investing for appreciation is that it's speculative.Since I only buy buildings I can add value to, the market is IRRELEVANT.