It should not come as a surprise when the actual returns vary from the averages for a particular strategy, due to all the risks inherent in underwriting multifamily: management risk, changes in submarket, cap rate and interest rate fluctuations (if refinance is part of the exit strategy), etc.

During the next 10, 20, or 30 years we will see positive and negative market fluctuations.  

Could be some fluctuations in rates between commercial and residential.

Fluctuating expenses?

I read interest rates are variable and can fluctuate from 9-15 percent.

Yet there has been a spike in property values in that section of the city. the closer to Cedar Park the better. as you move closer to Elmwood you go deeper into sw and the value takes a dive. though it fluctuates in SW as it does in the rest of the city. that's just the way Philly is. even in hot sections, whether they're up and coming or consistently hot, prices can vary tremendously. perform your due diligence thoroughly. my coin.kudos,Mary

The study will take into account the fluctuation in value of the peso from when you purchased, to where it is now.  

Sometimes that is much easier for them and less risk to you when it comes to fluctuating rates. 

The thought process here is that I may be able to make a 15% (for example) return on my own cash while accepting the risks associated with real estate investing, whereas a private party may not want the risks or fluctuations in income and be perfectly happy with a 5% return on their loan.

First duplex is all paid off   net 1200 per month2. 2nd Duplex is almost paid off  I owe 35,000  and will net 1400 per month3. 3rd Duplex I owe 100,000 and am positive 400 per month  When paid  off it will net 1300 per month4. 4th Duplex I owe  100,000 and am positive 400 per month  when paid off will net 1300 per month5. 5th duplex I owe   100,000 and am positive 400 per month when paid off will net 1300 per month6. 6th duplex I owe 120,000 and am positive 400 per month when paid off will net 1400 per month7 7th triplex  I owe 170,000 and am positive 400 per month when paid of will net    1700 per month8  8th triplex I owe 170,000 and am positive 400 per month when paid off will net 1700 per month.Currently with San Jose property rental  at 1200 per month + the first paid off duplex netting 1200  and the other 7 properties rough yielding 400 per month for a total of 2800 per month for a total per month profit of 5200   this is an average and fluctuates if I have a major issue at a duplex.