If the market is tough, I reduce the rent rate over the full 12-month term.

(i.e. initial decorating and painting, bookings, rate structures, marketing, bookkeeping housekeeping, etc)? 

Just need a good broker to help find you off market deals and know the area. 

I try to evaluate a unique property 2-3 different ways, then make a highly educated guess based on my knowledge of the market.

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

Off market is really just a marketing term. 

just typed a whole long post to have the internet fail and lose it!]

Despite rate cuts, we aren't seeing the lending market agree with their expectations on inflation.

No free lunch in this market!

Those are great markets for sure.