Then I would market the property as "in construction, completion date estimated as X" and treat it like a fairly standard sale, with the exception that it is new construction and you know you'll have a "blue tape" walkthrough with the buyer before closing, where the seller will be expected to fix everything that is an issue.

The rent very quickly, but most of the residents in the area are low level blue collar.

Well unfortunately I checked on it a few days ago and I noticed it was just taken off the market out of the blue..the realtors couldn't even give me any information.

Some of my renters are blue collar idiots. 

The 1 to 1 direct correlation of CAP/NOI to building price you are seeking only happens in lesser markets, not blue chip markets like SF.

Lots of blue collar work and hard working, real people which I appreciate.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $147,000

High end apartments in the Plaza District 💜

What made you interested in investing in this type...

On the commercial side, we're seeing a lot of industrial activity in areas such as "Blue Grass Industrial Park" and just across the river in Indiana at the "River Ridge" industrial park.

It is a lighter blue color. 

You can put the best clauses in your lease, tell your tenants what to do and what not to do til you're blue in the face, but when problems arise they cost a lot.