Inflation represents an average of prices, as measured by a CPI for example, that does not mean that every single thing and its pricing has to match in lockstep with this average inflation.

The company i worked for has haved many bad experiences cause of bad organization, materials stolen, project managers that didnt even know how to use a tape measure and all this years they supervised my work and I made them famous they became big bosses but honestly I was the one running the show.

This is especially a concern since I was targeting a FHA 203K loan (about 10K initial repairs/fixes)He said I would have to take the right measures to rezone it as 4 unit.

@Joe Splitrock  city of Portland has passed some tough laws.any apartment now over 20 units that is build must have 20% for low income.so all that did is have developers apply and receive 7000  that's SEVEN THOUSAND doors IE permits for developments for 7000 apartment doors that don't include this rule  it was all done Q 4 2016.new law went into effect Q 1 2017  take a guess how many doors are being applied for in the entire quarter.... 175 that's it.. in our region we build about 10 k housing units a year  about 60% SFR rest multi... building new buildings in the city of Portland will come to a trickle and there will be NO subsidized apartment units like the politico's hoped for.PDX also just had another measure that was being voted on this week.I have no dog in the hunt as I am strictly a value add guy and builder.

But do what you want to do if you think it's 50/50Painting the entire exterior of a property clearly adds both value and life (at least value and life as measured immediately before the painting), yet it is recognized as an expense in both IRS publications and capitalization regulations. 

Even then, it is of marginal benefit when underwriting an acquisition and there are far more pertinent measures which should receive focus.

Do surveyors remove the slope mathematically to find the 140 ft depth or do the basically run a measuring wheel down the hill for 140ft?

Hello my name is Armando Diaz I am a general contractor and I have been doing multifamily and home rehab renovations and through out the years I have met so much people and I have a strong relationship with wholesale material suppliers, I can get the Sheetrock for $5.00 a sheet when Home Depot has it for $11.50 I can get new complete kitchen cabinet sets for $400 and also the granite fabricated to any measurements in $400 any type of construction material you name it and I can get it on a good price I can beat any price Home Depot and Sherwin Williams give you for 20 percent less.

David Faulkner while I often appreciate your devil's advocate (that seems to be your common role) I am going to also vouch for CAP rate as a valid tool to measure a return on 1-4 units.

I went to measure and his plans are completely off!!!