I'll use your numbers as a benchmark to reach at the end of the year.  

A bad deal to you, can be a great deal to someone else.There isn't anything wrong with using the listed prices as a benchmark, remember that real estate is dictated by the market.

Btw, a 5Y ARM typically would adjust after the 5th year and lock annually depending on Libor or another benchmark rate. 

This is my first time so not sure what to benchmark to.

Some of the additional benefits include:Reduction in current tax liability Insurance savingsImmediate increase in cash flowMinimization of recapture upon sale of the assetIdentifying disposition expensesIdentifying repair and maintenance expensesEnergy cost savingsConstruction tax planningPreservation tax credits (historical and new market)Fixed asset reviewDEIRA Reports (reduces insurance premiums, benchmarking reports, energy audits and reserve studies)Depending on the state in which you own the property, you may also qualify for state taxdeductions or credits which can be identified with a thorough cost segregationstudy.Real Estate is such a unique type of investment and pairing it with cost segregation makes it even more unique.

If a bank can charge you a higher real rate on bank loans because the economy is stronger then the difference between the benchmark rate and the lending rate just makes it more profitable for the banks to issue loans.

Run the numbers on a number properties and establish what average returns are in your hood; then you can use that as a benchmark for your deals and help you with the analysis paralysis. 

@Priti DonnellyRegarding bull case:  I'm not sure the neg interest rates were more than just correlated to the yen vs. other currency performance because if you look at a chart of gold yen depreciated against gold (using that as a benchmark)? 

I am not suggesting you buy there, but it is a good benchmark to compare to. 

I have made all of my purchases because either I thought they would be a good investment or someone else said I should buy it.I need to get a better benchmark.