I do, I want higher quality people and lots of people are moving to Austin

- How do you know the quality of their work will meet your expectations?

Without detail, appraisers will tend to assume low-medium quality of materials finishes and the like.

Risk isn't like a stock, you're not looking at beta you're looking at quality of neighborhood you're purchasing, interest rate, rental liquidity, etc. 

Remember - it s not about the quantity of properties you have, it is about the quality. 

If you are unsure of the quality of the product you are selling than you will not sell the product.

The age is part of the local neighborhood quality without degrading the asset to an inferior condition.Here is a discussion on MFR asset classes...it gives aome key points for what makes up the quality of an asset:https://www.biggerpockets.com/forums/311/topics/797178-multi...

Now the debate of where rates "should be" would be based on the quality of product each person/owner offers. 

However, by doing so, it reduced my cost of living by over $600 a month, and I was able to purchase a fully remodeled property that allowed me to market to the highest quality tenants in the area, and I had a 2 year lease signed before my first mortgage payment was due.  

They've been a life saver, and have provided many updates and repairs to my home to maintain the value and quality of the home.