The fact that IR's accelerated outside of the worst case scenario models, even outside of a 2 SD, didn't have anything to do with it nor the fact that the local jurisdiction decided to extend the covid moratorium for an extra year resulting in no rent collection for a large portion of the MF property, was certainly factors not considered when applying basic math to the forecasting. 

What are the biggest factors that contribute to each type of market that make them their own?

Cash-Out Refinance: If you refinance the property, you can pull out cash based on the equity, which can be used for down payments on BRRRR properties.Collateral for Loans: The farm can be used as collateral for obtaining loans for other investment properties.BRRRR Investments:Immediate Cash Flow: BRRRR properties will likely generate some positive cash flow right away.Faster Turnover: BRRRR allows you to recycle your capital more quickly, aiding rapid portfolio growth.Initial Investment: $60,000 can potentially fund multiple BRRRR properties, providing diversity and multiple income streams.Farm Investment:Emotional Value: Maintaining the farm within the family has intrinsic value that cannot be quantified.Long-Term Appreciation: The farm's value may appreciate significantly over time, providing a substantial future asset.Monthly Cost: The $400 monthly cost needs to be factored into your budget, as it’s a non-cash-flowing asset in the short term.Decision Points:Emotional vs.

However your returns are probably even lower if you factor in upcoming major expenses like an hvac or roof replacement.It really depends on your goals. 

I discovered that credit scores are not the only determining factor for financing.

The appealing aspect here is the ongoing population growth and other economic factors.

Low credit score is just one factor.

Begin by assessing the area's overall appeal, including factors like crime rates, school quality, and amenities.

I would assume the tenant will have to be evicted(worst case) and factor that into my initial offer. 

As for whether one has to get quid pro quo in increased rent for improvements, there is also a factor of the quality and longevity of the tenants one gets with an upgraded apartment even when rents are limited by neighborhood competitive pressures.