To accomplish this, you need an income that outpaces inflation.

Low leverage, let time and inflation work their long term magic, keep the units occupied as much as possible. 

Then used Airdna numbers solely now with saturation and inflation.

A 4x increase.and that was when inflation was really low. 

Hi Randy,The reason small apartment buildings haven’t seen the same price drops as larger properties comes down to a few key factors: 1031 exchange buyers inflating bids, strong demand for limited supply, and sellers holding firm on prices since they’re not under financial distress.

However, if I'm just looking at the structure/improvement I believe that a home would depreciate following a curve in the same way that most physical goods depreciate on a curve (in terms of real dollars, adjusted for inflation). 

Thank you Ned, that is exactly right, we actually check a condo/townhouse about 2 weeks ago, the thing was a condo with a basement, I cannot tell if it was a condo or townhome, anyway, the ceiling in the first floor was bowing, the 2nd floor, one of the bedroom was sinking, could not tell how this damage was done but the walls came apart from the floor, you could see the roof of the unit bowing inwards towards the structure a bit, and their "general contractor" estimate that for 5k they could straighten the property and level everything, even 1 window and 1 door looked so uneven that you would think  there was something wrong with your eyes...5k for structural damage, good luck with that one, we ran as far as we could from that....but we have seen they do inflate their ARV, since we learned the hard way , we go through these deals with a magnifying glass, I knew I was not so picky, numbers do not lie.Another thing that caught my attention, which I do not know if I am overly suspicious now that I am older, but they want to get the closing for us at the same time/day they are getting the property from whoever they buying it, which it seems to me they try to save on the closing by having a "dual" closing when in reality is just 1 closing and we are the one paying for it...I do not know there are few things that do not click right with this folks.

The Feds just lowered rates by the .5% which looks great, but I view that as creating massive Inflation by the end of next year if they keep it up into 2025, which creates issues. 

Next, annual inflation rate. 

Others are a bit trickier and often over/under inflated - income, maintenance, PM costs, legal, etc.